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Baltic Horizon Fund General Meeting – notice to investors

Teade

Northern  Horizon Capital AS invites Baltic  Horizon Fund unit-holders to attend
an  annual General Meeting on 26 May 2020 at 15:00 (EET, local Estonian time) at
the  office of  Northern Horizon  Capital AS  at Tornimäe  2, 24th floor, 10145
Tallinn, Estonia. Registration for the meeting will begin at 14:00.

The  meeting is convened in  accordance with sections 8.3, 8.7, 10.3.1, 10.4 and
10.6 of  the Rules of  Baltic Horizon Fund  and section 47-1 and section 55-9 of
the Investment Funds Act of Estonia.

The  total  number  of  units  and  votes  in  Baltic  Horizon  Fund  amounts to
113,387,525.

Considering that the Estonian government announced an emergency situation on 12
March  2020 due to the pandemic  spread of the coronavirus  around the world and
its  spread in  Estonia, Northern  Horizon Capital  AS strongly recommends unit-
holders  not  to  participate  in  the  meeting  physically and issue a power of
attorney with instructions for voting to exercise their rights as a unit-holder.
We  propose the unit-holders to consider  designating fund manager Tarmo Karotam
as their authorised representative.

Unit-holders may also join the webinar to view the annual general meeting online
on 26 May 2020 at 15:00. The webinar will be held in English.

To    join    the   webinar,   please   register   via   the   following   link:
https://attendee.gotowebinar.com/register/5453835366190956300

You  will  be  provided  with  the  webinar  link  and  instructions how to join
successfully.  When joining the webinar for the first time, you will be asked to
download  the plug-in. In case plug-in can't  be downloaded, a web browser which
enables  attending the  webinar, opens  automatically. The  registration is open
until 26 May 2020 at 12:00 PM (CET)/ 13:00 PM (EET).

Registered  participants will  receive a  reminder e-mail  one hour prior to the
webinar.  The webinar will be recorded and  available online for everyone at the
company's website on www.baltichorizon.com.

Agenda

 1. Presentation of the FY2019 audited annual report of Baltic Horizon Fund, and
    interim report of Q1 2020;
 2. Issuance of new units of Baltic Horizon Fund in 2020.

Unit-holders  are invited to  send questions and  comments on the  agenda to the
fund  manager  at  [email protected]  by  19 May  2020. Northern  Horizon
Capital  AS will respond to these questions and comments as soon as possible but
no later than at the meeting itself.

Participation - requirements and notice

Investors  who are entered  in the Baltic  Horizon Fund registry of unit-holders
maintained  by Nasdaq CSD  SE ten days  before the date  of the General Meeting,
i.e.  at the end  of business of  Nasdaq CSD SE  on 15 May 2020, are entitled to
participate in the meeting.

In  order  to  facilitate  the  registration  process, Investors whose units are
registered  in their own name are invited  to provide notice of their attendance
by  19 May 2020 to  [email protected] (mailto:[email protected]). Notice
should  include name, personal identification number (or the registration number
of  the legal person), address, number  of units represented and, if applicable,
attendance   of   any   representatives,   along  with  the  name  and  personal
identification number of the representatives. The attendance of a representative
does not deprive the unit-holder of the right to participate at the meeting.

Instructions  to holders of Baltic Horizon  Fund units registered with Euroclear
Sweden AB in Sweden

Notice   of  participation  should  be  sent  by  16:00 EET  on  19 May  2020 to
[email protected]   (mailto:[email protected]).  Notice  should  include
name,  personal identification number  (or the registration  number of the legal
person),  address, number of units represented and, if applicable, attendance of
any  representatives, along with the name  and personal identification number of
the  representatives. The  attendance of  a representative  does not deprive the
unit-holder of the right to participate at the meeting.

Representation under a power of attorney

Unit-holders  whose representatives  are acting  under a  power of  attorney are
requested  to  prepare  a  written  power  of attorney for the representative in
Estonian or English (templates can be found at Annex 1).

A copy of the executed power of attorney should be sent to [email protected]
(mailto:[email protected])  together  with  the  notice of participation. In
case  the power of attorney is issued by a legal person, a certified copy of the
registration  certificate (or equivalent certificate of authority) shall be also
submitted  together with, as applicable,  the documents certifying the authority
of  the representative in case the power of attorney is signed by a person under
a power of attorney.

Baltic  Horizon Fund  is registered  in Estonia,  which means  that any power of
attorney  (or  any  certified  copy  of  the registration certificate of a legal
person)  issued in a foreign  country should be notarised  and accompanied by an
apostille. The apostille requirement applies, for example, to powers of attorney
issued and notarised in Sweden or Finland.

Instructions for the day of the General Meeting

We  kindly ask  Investors to  bring a  personal identification document, and for
their  representatives also to present the original written power of attorney in
English or Estonian. In case the unit-holder is a legal person, documentation in
Estonian  or  English  language  certifying  the  authority of the unit-holder's
representative or the signatory of the power of attorney will be also requested.

Data  collected  by  Northern  Horizon  Capital  AS from powers of attorney, the
unitholders  registry maintained by  Nasdaq CSD SE,  and the list  of holders of
units  registered in the Euroclear Sweden AB system will be used for the purpose
of registration and preparing the voting list for the meeting.

Northern Horizon Capital AS proposals on the agenda item no 2

Northern  Horizon Capital AS proposes that the General Meeting resolves to issue
new Baltic Horizon Fund units during 2020 under the following conditions:

  * The new units are to be issued at a price corresponding to the year-to-date
    weighted average price of Baltic Horizon Fund units on the Nasdaq Tallinn
    Stock Exchange until a date preceding 7 calendar days to first day of the
    subscription period.
  * Proceeds from the issuance of new units will be used either to acquire new
    real estate investments on the market or for the development of existing
    properties;
  * The new units will be issued at once or on several occasions in 2020, as
    decided by Northern Horizon Capital AS, based on the funding needs for new
    acquisitions or the development of the existing properties;
  * The new units may be issued as decided by Northern Horizon Capital AS either
    by way of public offering or private placement, i.e. without publishing a
    prospectus.

Annex 1:

Form  of power of attorney  to appoint a representative  for the General Meeting
(in Estonian)
Form  of power of attorney  to appoint a representative  for the General Meeting
(in English)

For additional information, please contact:

Tarmo Karotam
Baltic Horizon Fund manager
E-mail [email protected] (mailto:[email protected])
www.baltichorizon.com

Baltic  Horizon Fund is  a registered contractual  public closed-end real estate
fund  that  is  managed  by  Alternative  Investment Fund Manager license holder
Northern Horizon Capital AS.
Distribution:     GlobeNewswire,     Nasdaq     Tallinn,    Nasdaq    Stockholm,
www.baltichorizon.com (http://www.baltichorizon.com)