Market announcement

Title

Baltic Horizon Fund announcement of public offering

Message

Baltic  Horizon Capital AS announces the offering of up to 169,147,497 new units
of  Baltic  Horizon  Fund  to  the  existing  investors  of Baltic Horizon Fund.
Proceeds  from the offering will be  used for deleveraging Baltic Horizon Fund´s
portfolio and/or asset enhancement expenditures.

The offering is based on an information document available electronically on the
website      of      Baltic      Horizon      Fund at      www.baltichorizon.com
(https://www.baltichorizon.com/wp-content/uploads/2026/02/Baltic-Horizon-Fund-
offer-document.pdf).  The information  document has  been prepared in accordance
with Articles 1(4)(db) and 1(5)(ba) of Regulation (EU) 2017/1129 of the European
Parliament and of the Council (the "Prospectus Regulation"), and Annex IX to the
Prospectus  Regulation. Accordingly, no prospectus  for the public offering will
be prepared or published.

The  offering will  be directed  only to  existing investors. Public offering is
arranged  in Estonia.  The offering  will be  available to existing investors in
other  European Economic Area jurisdictions  under exemptions under Article 1 of
the  Prospectus Regulation.  Baltic Horizon  Capital AS  plans to list the units
issued in the offering on Nasdaq Tallinn.

Overview of the key terms of the offering:

1. The  offer period, during  which it is  possible to subscribe  for new units,
commences at 10:00 on 23 February 2026 and ends at 16:00 on 3 March 2026. Baltic
Horizon  Capital AS has the right to prolong  the offer period before the end of
the offer period by announcing a new timetable on the fund website and through a
stock exchange announcement.

2. The  offering is directed only to  the existing unitholders of Baltic Horizon
Fund,  i.e. persons entered in  the unit-holders' register as  of the end of the
Nasdaq  CSD  SE  working  day  on  20 February  2026, which  is  the working day
preceding  the  date  of  the  first  day  of the offering period (the ?Existing
Investors").  Investors should contact a custodian that handles their securities
account at the Estonian Register of Securities for subscription. For subscribing
to units, it is important that the subscription order is placed through the same
securities  account  where  the  current  Baltic  Horizon  Fund  units are held,
including  when the units are held via a nominee account. Baltic Horizon Capital
AS  may, at its discretion, accept subscriptions made through another securities
account,  provided that the  investor is able  to prove, to  the satisfaction of
Baltic Horizon Capital AS, that such investor is an Existing Investor and verify
the  number of units held  on the record date.  Such exceptions are made only in
limited  justified cases,  e.g. when  the investor  holds their  units through a
nominee account which does not enable subscribing for the units in the course of
the Offering.

3. The  offer price per  Offer Unit is  EUR 0.1478. Purchase orders  can only be
submitted for a whole number of units.

4. The  units are  offered and  allocated to  Existing Investors  on a  pro rata
basis, and each existing investor will be able to subscribe for and be allocated
up  to the number of units held by such investor on 20 February 2026, multiplied
by  a coefficient of 1.1782. This means, for  example, that if the investor held
1000 units  on 20 February  2026, the investor  is entitled  to subscribe  for a
maximum  of 1178 units in the current offering. In case of subscribing more than
the  entitled amount, the amount  of allocated units will  be decreased based on
the  principle described above. This does  not prevent the investor to subscribe
for a fewer units or not subscribe at all. The units not subscribed for will not
be  allocated  to  other  investors.  On  allocation,  the number of units to be
allocated  to an investor will  be rounded to the  nearest whole number of units
(Half  Up method  - i.e.  5 or more  are rounded  up and  4 or lower are rounded
down). If, due to the rounding, the total amount of allocated units would exceed
169,147,497 units, the exceeding amount of units will be deducted from allocated
amounts to the largest investors by discretion of the fund manager.

5. As  described in  more detail  in the  information document, the investor, in
order  to participate  in the  offering, must  hold a  securities account in the
Estonian  Register  of  Securities  and  authorise the institution operating the
investor's  cash account connected to its  securities account to block the whole
transaction  amount on the  investor's cash account  until the settlement of the
offering  is completed or funds are released. If, for any technical reasons, the
investor is unable to subscribe in the described way, the investor is advised to
contact     the     fund    manager    directly    via    [email protected]
(https://www.globenewswire.com/Tracker?data=1uaO2iITm7cnr1frVEzF_h91nnhLL7UrROd2
itUjHw73y0K24_D7N4lN6o-
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This  announcement is not a prospectus, nor is a prospectus drafted or disclosed
for  this offering. The offering is based  on an information document drafted in
accordance  with Annex IX of the Prospectus Regulation. The information document
has  been filed with the Estonian Financial Supervision and Resolution Authority
on  the date of  publishing this announcement.  The information document has not
been  reviewed or approved by the  Estonian Financial Supervision and Resolution
Authority.  For a more detailed overview of Baltic Horizon Fund and the terms of
the offering, please refer to the information document.

KEY DATES

The timetable below lists key dates related to the offering:

-------------------------+-----------------------------------------------------
 23 February 2026        |Commencement of the offer period
-------------------------+-----------------------------------------------------
 3 March 2026            |End of the offer period
-------------------------+-----------------------------------------------------
                         |Baltic   Horizon   Capital  AS  will  decide  on  the
                         |allocation of Offer Units and announce the results of
 On or about 4 March 2026|the offering
-------------------------+-----------------------------------------------------
                         |Delivery  of the allocated new units to investors and
 On or about 9 March 2026|payment for the new units
-------------------------+-----------------------------------------------------
 On or about 9 March 2026|Start of trading on Nasdaq Tallinn
-------------------------+-----------------------------------------------------


Form of the subscription order:

+--------------------------------------+---------------------------------------+
|Owner of the securities account:      |[name of the investor]                 |
+--------------------------------------+---------------------------------------+
|                                      |[number  of  the  investor´s securities|
|Securities account:                   |account]                               |
+--------------------------------------+---------------------------------------+
|                                      |[name   of   the   investor´s   account|
|Account operator:                     |operator]                              |
+--------------------------------------+---------------------------------------+
|Security:                             |BALTIC HORIZON FUND UNIT               |
+--------------------------------------+---------------------------------------+
|ISIN code:                            |EE3500110244                           |
+--------------------------------------+---------------------------------------+
|                                      |[the number of units which the investor|
|Amount of securities:                 |wishes to subscribe for (amount)]      |
+--------------------------------------+---------------------------------------+
|Price (per one unit):                 |EUR 0.1478                             |
+--------------------------------------+---------------------------------------+
|                                      |[the number of units which the investor|
|                                      |wishes  to subscribe for, multiplied by|
|Transaction amount:                   |the offer price]                       |
+--------------------------------------+---------------------------------------+
|Counterparty:                         |Baltic Horizon Fund                    |
+--------------------------------------+---------------------------------------+
|Securities      account     of     the|                                       |
|counterparty:                         |99102152485                            |
+--------------------------------------+---------------------------------------+
|Account operator of the counterparty: |Swedbank AS                            |
+--------------------------------------+---------------------------------------+
|Type of transaction:                  |"purchase" or ?subscription"           |
+--------------------------------------+---------------------------------------+
|Type of settlement:                   |delivery versus payment                |
+--------------------------------------+---------------------------------------+


The  information contained herein  does not constitute  an offer to  sell or the
solicitation  of an offer to buy, nor shall there be any sale of, the securities
in  any jurisdiction in which such offer, solicitation or sale would be unlawful
prior  to registration, exemption  from registration or  qualification under the
securities  laws of any  such jurisdiction. The  information contained herein is
not  for release, publication or distribution, in  whole or in part, directly or
indirectly,  in or into the United  States, Australia, Canada, Hong Kong, Japan,
New Zealand, Singapore, South Africa, Russia, Belarus or such other countries or
otherwise   in   such   circumstances  in  which  the  release,  publication  or
distribution would be unlawful.

For additional information, please contact:

Tarmo Karotam
Baltic Horizon Fund manager
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=YM-
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www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=bWceOHqYoD1J6i_TnIPpONIxFnImG0PplrQE
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Baltic Horizon Fund is a registered contractual public closed-end real estate
fund managed by Alternative Investment Fund Manager license holder Baltic
Horizon Capital AS.

Distribution: GlobeNewswire, Nasdaq Tallinn, www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=bWceOHqYoD1J6i_TnIPpONIxFnImG0PplrQE
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To  receive Nasdaq  announcements and  news from  Baltic Horizon  Fund about its
projects,      plans     and     more,     register     on www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=bWceOHqYoD1J6i_TnIPpONIxFnImG0PplrQE
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nvn7XxeWiQ3s).   You   can   also   follow   Baltic   Horizon  Fund  on LinkedIn
(https://www.globenewswire.com/Tracker?data=u4dVfPUGDVxXxv3k7cwi0OQTQLR9MtAdUHQG
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