Market announcement

Title

Notice on Public Offering, Listing and Admission to Trading of Additional Shares of EfTEN Real Estate Fund III AS

Message

EfTEN Real Estate Fund III AS (registry code 128640036, address A. Lauteri
5, 10114 Tallinn) hereby announces a public offering of shares of EfTEN Real
Estate Fund III AS and informs about the contemplated listing and admission to
trading of the additional shares on the regulated market operated by Nasdaq
Tallinn AS (register code 10359206). The Public Offering is based on the
decision of the general meeting of shareholders on 15.04.2021.

Public Offering of Shares


EfTEN Real Estate Fund III AS offers up to 850 000 new ordinary shares, for all
natural and legal persons in Estonia in accordance with the Public Offering
Prospectus. An investor may subscribe to any number of shares offered. The
minimum and maximum number of shares offered that can be subscribed for has not
been established. Existing shareholders of the fund i.e., the persons who have
been entered in the list of shareholders of the fund as of 29.04.2021 as at the
end of the working day of Nasdaq CSD, have a pre-emptive right to subscribe for
new shares in proportion to the sum of the nominal values of their shares. The
above, however, does not preclude the existing shareholders' right to subscribe
more or less for the shares offered or not to subscribe for the shares offered.
Existing shares are not sold in the Offer.

The offering price of one share offered is 17,8 euros, of which 10 euros is the
nominal value of the share offered and 7,8 is the issue premium.

The subscription of the shares offered is carried out in Estonia through the
account managers of Nasdaq CSD SE Estonian branch. The subscription order shall
include the following information:

 Securities account holder:               Name of the investor

 Securities account:                      Securities account number of the
                                          investor

 Securities account manager:              Name of the investor's securities
                                          account manager

 Security:                                EfTEN Real Estate Fund III aktsia
                                          additional 6

 ISIN:                                    EE3800001242

 Quantity of securities:                  The number of shares offered, which
                                          the investor wishes to subscribe

 Price (per share):                       17,8 EUR

                                          Number of shares offered, which the
 Transaction price:                       investor wishes to subscribe,
                                          multiplied by the price of the
                                          offered shares

 Counterparty of transaction:             EfTEN Real Estate Fund III AS

 Counterparty's securities account:       99102006845

 Counterparty's securities account        Swedbank AS
 manager:

 Settlement date:                         10.06.2019

 Type of transaction:                     ?Purchase"

 Settlement type:                         ?Delivery versus payment "

Subscription orders to participate in the offer can only be presented in euros
and the participant in the offer covers all the costs related to presenting the
subscription order and fees payable.

The time schedule of the offering of the shares is as follows:

 14.05.2021 at 09:00 (EET) Start of the subscription period of the shares

 31.05.2021 at 16.00 (EET) End of the subscription period of the shares

 01.06.2021                Announcement of the initial results of the Offering

 10.06.2021                Settlement of the Offering (Transfer of the shares
                           to investors' securities accounts)

 On or about 17.06.2021    The increase of the share capital is presumably
                           registered in the Commercial Register

                           Expected listing of the shares and admission to
 On or about 22.06.2021    trading on the regulated market operated by Nasdaq
                           Tallinn AS (on Baltic Main List)

Listing and Admission to Trading of Shares


EfTEN Real Estate Fund III AS has applied for listing and trading all offered
shares of the fund on the Nasdaq Tallinn Stock Exchange Main List. While every
effort will be made and due care will be taken in order to ensure the listing
and the admission to trading of the shares, EfTEN Real Estate Fund III AS cannot
ensure that the shares are listed and admitted to trading.

Availability of Prospectus

The public offering, listing and admission to trading prospectus of shares of
EfTEN Real Estate Fund III AS can be obtained at the office EfTEN Real Estate
Fund III AS at A. Lauteri 5, Tallinn (III floor) and in electronic format from
fund's website www.eref.ee (http://www.eref.ee) and from the website of the
Financial Supervision Authority www.fi.ee (http://www.fi.ee). Additionally, the
prospectus is attached to this notice on public offering, listing and admission
to trading of shares of EfTEN Real Estate Fund III AS.

Before investing into shares of EfTEN Real Estate Fund III AS we ask you to
acquaint yourself with the whole prospectus.

Viljar Arakas
Member of the Management Board
Phone: 655 9515
E-mail: [email protected]