Market announcement

Title

Registration of changes in the Articles of Association of the Company

Message

The Management Board of FON SE with its registered office in Tallinn informs that on 15/07/2020 the register of commercial companies (Ariregister) relevant to the law of Estonia registered changes in the Articles of Association of the Company in accordance with Resolution No. 1 of the Extraordinary General Meeting of Shareholders of 23/06/2020.

As a result of this, the current wording of § 2.3 of the Company's Articles of Association is as follows:

2.3. The Company has two classes of shares:

2.3.1. Registered shares without a nominal value (A-shares). Each A-share shall give 1 (one) vote at the general meeting. An A-share entitles the shareholder to receive 100% of the dividend per share paid in accordance with the resolution of the general meeting.

2.3.2. Registered shares without a nominal value (B-shares). Each B-share shall give 1 (one) vote at the general meeting. A B-share entitles the shareholder to receive 50% of the dividend per share paid in accordance with the resolution of the general meeting.

2.3.3. Both the A-share and the B-share shareholders have the right to participate in the general meeting of shareholders of the Company and to vote on all issues. Both the A-share and the B-share shareholders also participate pari passu in the distribution of the assets remaining upon the dissolution of the Company and have equal rights provided by law and the articles of association of the Company.

The Issuer attached to this report the current wording of the Articles of Association in the English and Estonian language versions.