Börsiteade

Pealkiri

Notice of calling the annual general meeting of Hepsor AS

Teade

The  management board  of Hepsor  AS (registry  code 12099216, address Järvevana
7b, 10112 Tallinn)  calls the annual  general meeting of  the shareholders to be
held on Wednesday, 25 May 2022 at 11:00 in the conference hall of L'Embitu Hotel
at  Lembitu 12, Tallinn. The registration of participants of the general meeting
shall  begin on 25 May 2022 at  10:30 at the location of  the meeting. We kindly
ask  the shareholders to arrive ahead of  time, considering the time it takes to
register the participants of the meeting.

The list of shareholders entitled to vote in the annual general meeting shall be
determined as at 7 days before the general meeting is held, i.e. on 18 May 2022
at the end of the business day of the settlement system of Nasdaq CSD Estonia.

Procedure and term of electronic voting

The shareholders who do not wish to participate at the physical meeting can vote
electronically  before the meeting is held. In order to cast an electronic vote,
the  shareholder  must  fill  out  the  voting  ballot which is available on the
website      of     Hepsor     AS     (hepsor.ee/en/about-the-company/corporate-
governance/general-meeting/notice-of-calling-the-annual-general-meeting-of-
hepsor-as/ (https://hepsor.ee/en/about-the-company/corporate-governance/general-
meeting/notice-of-calling-the-annual-general-meeting-of-hepsor-as/).  The filled
voting  ballot must be signed digitally and sent by e-mail to [email protected]
(mailto:[email protected]) by 24 May 2022 at 16:00 the latest.

Agenda of the general meeting and proposals of the supervisory board for voting

 1. Approval of the 2021 annual report

The supervisory board proposes to the shareholders:

  * To approve the 2021 annual report of Hepsor AS.

 1. Distribution of profit

The supervisory board proposes to the shareholders:

  * Cover the net loss of the financial year that ended on 31.12.2021 in the
    amount of 22 thousand euros on the account of the retained profit of the
    previous periods.

Publication of information related to the general meeting

Information  related to the general meeting  (this notice on calling the general
meeting; annual report, sworn auditor's report and profit distribution proposal;
draft   resolutions  submitted  by  the  management  board,  supervisory  board,
shareholders  and auditor and the  substantiations of the shareholders regarding
the agenda items; the total number of shares and voting rights related to shares
on  the day of publishing the notice  calling the general meeting; the blanks to
be used when voting on the basis of authorisation and when voting electronically
before  the meeting)  are available  for review  on the  website of Hepsor AS at
hepsor.ee/en/about-the-company/corporate-governance/general-meeting/notice-of-
calling-the-annual-general-meeting-of-hepsor-as/    (https://hepsor.ee/en/about-
the-company/corporate-governance/general-meeting/notice-of-calling-the-annual-
general-meeting-of-hepsor-as/)

 At  this  address,  other  documents  to  be  submitted  to the general meeting
pursuant  to the law are also available for review, as well as information about
the  procedure and term for exercising shareholder  rights as set out in § 287,
§ 293 (2) and (2(1)) and § 293(1) (4) of the Commercial Code.

Any  questions  regarding  the  items  on  the  agenda may be sent to the e-mail
address  [email protected]  (mailto:[email protected]).  Questions and answers
are published on the website of Hepsor AS.

Information  regarding the participation  in a general  meeting by proxy and the
notification procedure of revocation of the authorisation

Everyone  who wishes to appoint a representative  acting on the basis of a power
of  attorney is  kindly requested  to notify  Hepsor AS  of this  not later than
before the beginning of the annual general meeting by e-mail at investor@hepsor.
(mailto:investor@hepsor.)ee. We also kindly request that the powers of attorney,
signed  digitally by the  shareholder, are sent  to the same  e-mail address not
later  than before  the beginning  of the  annual general  meeting. In  case the
authorisation  is revoked, we kindly request  that the respective notice, signed
digitally   by   the   shareholder,   is   sent   to  the  same  e-mail  address
[email protected]   (mailto:[email protected])   not  later  than  before  the
beginning of the annual general meeting.

Registration of participants of the general meeting

For  registration, we  ask the  shareholder to  bring an identity document (e.g.
passport  of  ID  card).  In  addition  to  the  identity  document,  we ask the
representative of a shareholder to bring the original copy in case of a power of
attorney in unattested written form.

In addition to an identity document, we ask the representatives of foreign legal
persons  to bring  an apostilled  extract of  the commercial  register where the
foreign  legal person is entered. The  commercial register extract must be dated
up  to  three  months  before  the  annual  general meeting is held. In case the
person's  right of  representation is  not evident  from the commercial register
extract, we ask that the apostilled articles of association of the foreign legal
person  are submitted for  the verification of  the right of representation. The
apostille  requirement does not apply if  the respective extract and articles of
association have been attested by a notary in France, Belgium, Denmark, Ireland,
Italy, Latvia, Lithuania, Poland, Ukraine or the Russian Federation.

                                      ***

Hepsor  AS (www.hepsor.ee (http://www.hepsor.ee)) is  one of the fastest-growing
residential and commercial property developers in Estonia and Latvia. In our ten
years  of excellence  we have  created more  than 1,400 homes and 23,000 m(2) of
commercial  premises. As the  first developers in  the Baltic states, Hepsor has
implemented  many  innovative  engineering  and  technical solutions, making the
buildings  they construct  more energy-efficient  and thus  more environmentally
friendly.  The company's portfolio  includes a total  of 26 development projects
with a total area of 177,000 m(2).