Market announcement

Title

EfTEN REAL ESTATE FUND AS NOTICE CALLING THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

Message

The  Management Board of EfTEN Real Estate Fund AS (registry code 12864036; seat
Tallinn,  A. Lauteri 5) calls the  extraordinary general meeting of shareholders
on 16 October 2024 at 15:00.

Venue  of the general meeting: Radisson Collection Hotel second floor conference
centre hall "Tallinn", address Tallinn, Rävala 3.

The  registration of participants of the  general meeting starts at 14:00 on 16
October  2024 at the  venue of  the meeting.  The registration ends at 15:00. If
possible,  we request that all shareholders  arrive in time considering the time
required to register the participants of the meeting.
The   list  of  shareholders  who  shall  be  entitled  to  participate  in  the
extraordinary general meeting shall be fixed seven days prior to the date of the
general  meeting, i.e., on 09 October  2024 as at the end  of the working day of
the registrar of the settlement system of the fund's securities.

The  shareholders may  also participate  by appointing  a representative or vote
prior  to the meeting on the items on the agenda of the general meeting by using
electronic means. There will be no video transmission of the general meeting.
When  appointing a representative, we recommend  you to appoint Viljar Arakas, a
member  of  the  Management  Board  of  the  fund,  whom  you  can  give precise
instructions  to vote on your behalf on  each agenda item. In case a shareholder
wishes  to  use  the  template  of  power  of  attorney  upon  appointment  of a
representative,  the respective template is available on the webpage of the fund
https://eref.ee/investorile/uldkoosolekud/.

Electronic voting of draft resolutions
Shareholders  may  vote  electronically  on  the  items on the agenda before the
general meeting is held in accordance with the following procedure:

   i. The electronic vote must be sent to the address koosolek@eften.ee
      (mailto:koosolek@eften.ee) not later than on 15 October at 16:00 (Estonian
      time). The shareholder has the right to change or cancel the vote given or
      submit objections not later than indicated in the previous sentence.
  ii. The shareholder's vote must be given on the respective form available on
      the fund's website https://eref.ee/investorile/uldkoosolekud/ and must be
      digitally signed. In case several correctly filled and signed voting
      ballots are submitted on behalf of one shareholder, only the latest
      received voting ballot shall be considered valid, and all previous voting
      ballots of that shareholder shall be considered invalid. In case the
      shareholder has submitted the voting ballot, but also attends the general
      meeting in person, all the voting ballots submitted by the shareholder
      before the general meeting shall be considered invalid.
 iii. In case the shareholder is represented at the general meeting by a
      representative, a digitally signed power of attorney certifying the right
      of representation must be submitted to the e-mail address
      koosolek@eften.ee (mailto:koosolek@eften.ee) together with the electronic
      vote or before submitting the electronic vote.
  iv. Shareholders who have voted no later than 15 October 2024 at 16.00
      (Estonian time) shall be deemed to have taken part in the general meeting
      and the votes represented by the shareholders' shares shall be accounted
      as part of the quorum of the general meeting, unless otherwise provided by
      law.

Pursuant  to the resolution of  the Supervisory Board of  EfTEN Real Estate Fund
AS,  the extraordinary general  meeting will have  the following agenda together
with proposals of the Supervisory Board to the shareholders:

Item  1: Management Board's overview  of the fund's  business activities of this
year
The Management Board shall provide an overview of the fund's business activities
of this year. The item is for informational purposes only.

Item  2: Increase of share capital and listing of new shares on the Main List of
Nasdaq Tallinn Stock Exchange
To  ensure the ongoing development and future  investments of the fund, the fund
plans  to carry out an additional share issue in the amount of up to 30,000,000
euros.  According  to  clause  6.11 of  the  fund's Articles of Association, the
general  meeting has the right to delegate  the increase of the share capital to
the competence of the Supervisory Board.
Proposal of the Supervisory Board:
2.1. To delegate to the competence of the Supervisory Board, the decision on the
increase of share capital for a six-month period following this general meeting,
considering  that the total volume  of the additional capital  to be raised will
not exceed 30,000,0000 euros and the existing shareholders shall retain the pre-
emptive right to subscribe for the new shares.
2.2. To  apply for  the listing  and admission  to trading  of all  newly issued
shares  on the Main List of Nasdaq  Tallinn Stock Exchange, and to authorise the
Supervisory  Board  and  the  Management  Board  of  the  fund  to carry out all
activities and conclude all agreements necessary for this purpose.

Additional organisational information:
Documents  related to the general meeting,  including the approved annual report
of  the previous financial year,  drafts of the board's  decisions and any other
information  subject to the  statutory disclosure requirement  are available for
examination  on  the  webpage  of  the fund www.eref.ee (http://www.eref.ee) and
until  the date  (incl.) of  the general  meeting, at  the premises  of the fund
(address  A. Lauteri  5, 10114 Tallinn, 3rd floor)  on working  days from 09:00
until 16:00.
Questions  with respect to the matters on  the agenda of the general meeting can
be submitted via e-mail address: koosolek@eften.ee (mailto:koosolek@eften.ee) or
by mail to the address of the fund (Tallinn 10114, A. Lauteri 5) or via phone by
calling + 372 655 9515. Questions, answers, shareholders' proposals with respect
to  the matters on  the agenda and  the minutes of  the general meeting shall be
published   on   the   webpage   of   EfTEN  Real  Estate  Fund  AS  www.eref.ee
(http://www.eref.ee).

We  request to submit the following to  register the participants of the general
meeting:
-  in case  of a  shareholder who  is a  natural person, an identity document. A
representative  of  a  shareholder  shall  also  present  a power of attorney in
written form.
-  in case of a shareholder who is  a legal person, an extract from the registry
where  the legal  person is  registered, which  proves the  authorisation of the
representative  to represent the  legal person (right  of representation arising
from  law)  and  an  identity  document  of  the  representative.  In  case  the
representative  is not a legal representative of the legal person, a valid power
of  attorney shall also be required. Where required by applicable law, documents
pertaining to a legal person registered in a foreign country are requested to be
legalized  or duly apostilled. Documents in foreign language are requested to be
accompanied by a translation into Estonian by a sworn translator.

At  the general meeting,  a shareholder is  entitled to receive information from
the  Management Board on  the activities of  the fund. The  Management Board may
decide  to  withhold  information  if  there  is  a  reason  to believe that the
disclosure  of information may cause significant  damage to the interests of the
public limited company. If the Management Board refuses to disclose information,
the  shareholder  may  demand  from  the  general  meeting to adopt a resolution
regarding  the  lawfulness  of  the  information  request or to file, within two
weeks,  a petition  to a  court by  way of  proceedings on  petition in order to
obligate the Management Board to give information.

The  shareholders whose shares represent at  least 1/20 of the share capital may
request  for  additional  items  to  be  included  on  the agenda of the general
meeting,  if the  respective request  is submitted  in writing  at least 15 days
prior  to  the  general  meeting  to  the  address EfTEN Real Estate Fund AS, A.
Lauteri 5, 10114 Tallinn.
The  shareholders whose shares represent at  least 1/20 of the share capital may
present  a draft resolution in respect of each  item on the agenda in writing no
later  than three days  prior to the  general meeting to  the address EfTEN Real
Estate Fund AS, A. Lauteri 5, 10114 Tallinn.

Prior to the general meeting, the shareholder may notify of the appointment of a
representative  or the revocation of the representative's authority by sending a
digitally    signed    notice    to   the   e-mail   address   koosolek@eften.ee
(mailto:koosolek@eften.ee)  or by delivering  the signed documents  in person on
working  days between 09:00 to 16:00 to EfTEN Real  Estate Fund AS at A. Lauteri
5, 10114 Tallinn  at  the  latest  by  15.10.2024 (Estonian  time).   In  case a
shareholder  wishes to use the template of power of attorney upon appointment of
a  representative, the respective template is  available on the webpage of EfTEN
Real Estate Fund S https://eref.ee/investorile/uldkoosolekud/.

Viljar Arakas
Member of the Management Board
Tel: 655 9515
E-mail: viljar.arakas@eften.ee (mailto:viljar.arakas@eften.ee)