Börsiteade

Pealkiri

Invitation to the Annual General Meeting of shareholders of AS Harju Elekter Group, its agenda, and proposals

Teade

The Management Board of AS Harju Elekter Group (registry code 10029524,
registry address Paldiski mnt 31/2, Keila) convenes the Annual General Meeting
of shareholders. The General Meeting will take place on 24 April 2025 at 10:00
a.m. at venue of Nordic Hotel Forum (Capella hall), address Viru väljak 3,
Tallinn.

 Registration of meeting participants will start on 24 April 2025 at 09:00 a.m.
The list of shareholders entitled to vote at the meeting is fixed seven days
before the General Meeting, i.e. as of the end of the business day of the Nasdaq
CSD Estonian settlement system on 17 April 2025.

Shareholders  can vote on the items on  the agenda before the General Meeting by
e-mail  or post. A more  detailed overview of how  it is possible to vote before
the  General Meeting, is provided in the section "Organisational issues" of this
notice  and on  the website  of AS  Harju Elekter  Group at www.harjuelekter.com
(http://www.harjuelekter.com).

The  Supervisory Board of AS Harju Elekter Group set the agenda of the following
General Meeting and approved the following proposals:

1.  Approval of the 2024 Annual Report of AS Harju Elekter Group

Approve  the 2024 Annual Report prepared by the Management Board and approved by
the  Supervisory Board, according to which  the total consolidated balance sheet
as  of 31 December 2024 is 153,7 million  euros, revenue is 174,7 million euros,
operating profit is 6,4 million euros and net profit is 3,2 million euros.

2.  Approval of profit distribution
Approve  the  2024 profit  distribution  proposal  of  AS  Harju  Elekter  Group
submitted  by  the  Management  Board  and  approved by the Supervisory Board as
follows:

  Retained earnings                             EUR 49,762,244

  Net profit for 2024                           EUR   3,174,768

  Total distributable profit as of 31.12.2024   EUR 52,937,012

The Management Board proposes the distribution of profits as follows:

  Dividends (EUR 0.15 per share*)                  EUR   2,774,816

  Retained earnings after distribution of profit   EUR 50,162,196

*Dividends  will  be  paid  to  shareholders  on 28 May 2025, by transfer to the
shareholder's  bank  account.  The  list  of  shareholders  for  the  payment of
dividends is established on 21 May 2025 as at the end of the business day in the
accounting  system.  The  date  of  the  change  in  the  rights  related to the
securities (ex-date) is 20 May 2025, from this date, the person who acquired the
shares is not entitled to receive dividends for the financial year 2024.

3.  Amendment of the Articles of Association
Change  the business address to  Tallinn, the Republic of  Estonia and amend the
Articles  of Association of AS Harju Elekter  Group in the form submitted to the
general Meeting.

4.  Remuneration Principles for the members of the Management Board
To approve remuneration principles for the members of the Management Board of AS
Harju Elekter Group in the form submitted to the General Meeting.

ORGNISATIONAL ISSUES
Shareholders  whose  shares  represent  at  least  1/20 of the share capital may
request  that additional items be included in  the agenda of the General Meeting
if  the respective  request is  submitted in  writing 15 days before the General
Meeting, no later than on 09 April 2025.

Shareholders  whose  shares  represent  at  least  1/20 of the share capital may
submit a draft resolution on each item on the agenda no later than 3 days before
the  General Meeting, no later than on 21 April 2025. Further information on the
procedure  and terms  for exercising  the rights  provided pursuant to section §
287 (right  of shareholder to information), subsection 293 (2) (right to request
inclusion   of   additional  items  on  the  agenda  and  subsection  293(1) (3)
(obligation to submit a draft resolution or a substantiation simultaneously with
the  demand on the modification of  the agenda) and subsection 293(1) (4) (right
to  submit a draft  resolution in respect  to each item  on the agenda) has been
disclosed  on  the  website  of  AS  Harju Elekter Group at www.harjuelekter.com
(http://www.harjuelekter.com). This is also where draft resolutions submitted by
shareholders  and  the  substantiations  of  the  resolutions,  if any, are also
disclosed.

The documents of the annual general meeting of AS Harju Elekter Group, including
the annual report, the sworn auditor's report, the profit distribution proposal,
the  report  of  the  Supervisory  Board,  Articles of Association, remuneration
principles and the draft resolutions of the items on the agenda are available on
the  company's website at  www.harjuelekter.com (http://www.harjuelekter.com) or
at  the website of Nasdaq  Baltic https://nasdaqbaltic.com/. Questions regarding
the   items   on   the   agenda   can   be   submitted  to  the  e-mail  address
[email protected]  (mailto:[email protected]).  Questions,
answers,  and positions of  the meeting are  published on the company's Internet
website.

Appointment of a representative. Prior to the General Meeting, a shareholder may
announce  the appointment of a representative and the revocation of the power of
attorney   granted   to   the   representative   by   sending   an   e-mail   to
[email protected]  (mailto:[email protected])  or  by mail
the  said document(s)  no later  than on  21 April 2025 at  the AS Harju Elekter
Group   office  at  A.  H.  Tammsaare  road  56 (3rd  floor),  Tallinn  11316. A
shareholder  may  use  power  of  attorney  forms  to authorize a representative
available  on  the  website  of  AS  Harju  Elekter  Group  www.harjuelekter.com
(http://www.harjuelekter.com).

If  voting prior to the  General Meeting, shareholders are  requested to fill in
the  ballot  papers  available  on  the  website  of  AS  Harju Elekter Group at
www.harjuelekter.com  (http://www.harjuelekter.com)  and  attached  to the stock
exchange  announcement convening the General Meeting. When voting by e-mail, the
completed  ballot  papers  must  be  digitally  signed  and  sent  by  e-mail to
[email protected] (mailto:[email protected]) no later than
by 23 April 2025 at 11:00 a.m.

When voting by mail, the completed ballot papers must be signed by hand and sent
with a copy of the personal data of the signatory's identity document by mail no
later  than by 23 April  2025 at 11:00 a.m. to  the address of  AS Harju Elekter
Group, A. H. Tammsaare road 56 (3(rd) floor), Tallinn 11316.

Ballot  papers received after the  above deadline shall not  be considered. If a
shareholder  submits several completed ballot papers,  the ballot paper with the
latest  digital signature time stamp  or time of mailing  shall be deemed valid.
All previously submitted ballot papers shall be deemed invalid.

If  the shareholder who submitted a ballot paper before the General Meeting also
physically  participates in the  General Meeting, all  ballot papers sent by the
shareholder  before  the  General  Meeting  shall  be  deemed invalid. The exact
procedure for voting prior to the General Meeting is provided in the shareholder
information  document  available  on  the  website  of AS Harju Elekter Group at
www.harjuelekter.com  (http://www.harjuelekter.com)  and  in  the stock exchange
announcement convening the General Meeting.

To  register participants physically attending the General Meeting the following
is   required:  shareholder  who  is  a  natural  person  -  identity  document;
representative  of a shareholder who is a natural person - identity document and
a  power of attorney in written form;  legal representative of a shareholder who
is a legal person - an extract from the relevant (commercial) register where the
legal  person  is  registered  and  an  identity document of the representative;
contractual representative of a shareholder who is a legal person shall submit a
power  of attorney in written form in addition to the documents specified above.
Please  legalise or apostille the documents  of a legal person registered abroad
in  advance, unless otherwise  provided by an  international agreement. AS Harju
Elekter  Group may  register a  shareholder who  is a  foreign legal person as a
participant  in a General Meeting even if all the required information about the
legal person or its representative is contained in a notarised power of attorney
issued  to the representative abroad and that power of attorney is acceptable in
Estonia. Please present a passport or ID Card as an identity document.

Questions  regarding the general meeting, also about voting, can be submitted to
the            e-mail            address            [email protected]
(mailto:[email protected]).

Tiit Atso
Chairman of the Management Board
+372 674 7400