Börsiteade

Pealkiri

Notice to convene the Annual General Meeting of Shareholders

Teade

The  Management  Board  of  AS  TALLINNA  VESI  (registry  code  10257326, Ädala
10, 10614 Tallinn)  (hereinafter also  "the Company")  announces that the Annual
General  Meeting of Shareholders of  the Company will be  held on Friday, 3 June
2022 at  09.00 (GMT+3) at Ülemiste Water Treatment  Plant in the Blue Auditorium
(Address: Järvevana road 3, Tallinn, Estonia). Registration of the shareholders,
who  wish to participate in the general  meeting in person, will start at 08.30
(GMT+3)  on 3 June 2022 at  the place of  the general meeting. Registration will
end at 09.00 (GMT+3).

The  list of shareholders who have the  right to vote will be established 7 days
prior  to the Annual General Meeting, i.e. at  the end of the working day of the
settlement system of Nasdaq CSD Eesti on 27 May 2022.

The  agenda for the Annual General Meeting  has been approved by the Supervisory
Council with the following proposals:

1.        Approval of the 2021 Annual Report

Supervisory Council's proposal:

To  approve the consolidated  2021 Annual Report of  the Company as submitted to
the General Meeting.

2.        Distribution of profit

Supervisory Council's proposal:

The  net  profit  of  the  Company  in  2021 is EUR16,165,000 (sixteen million one
hundred  and sixty five thousand).  To distribute EUR13,000,000 (thirteen million)
of  the Company's retained  earnings of EUR77,408,000  (seventy seven million four
hundred and eight  thousand)  as  of  31/12/2021, incl.  from  the net profit of
EUR16,165,000  (sixteen million one hundred and  sixty five thousand) for the year
2021, as  dividends, of  which EUR0.65(zero  point sixty-five)  per share shall be
paid   to   the   shareholders. The  rest  of   retained  earnings  will  remain
undistributed and no allocations will be made from the net profit to the reserve
capital.

Based  on the  dividend proposal  made by  the Management Board, the Supervisory
Council  proposes to the General  Meeting to decide to pay  the dividends out to
the  shareholders on 29 June 2022. The list  of shareholders entitled to receive
dividends  will be established as at 21 June 2022 at the closure of business day
of  the settlement system. Consequently, the day of change of the rights related
to the shares (ex-dividend date) is set to 20 June 2022.

A person acquiring the shares from 20 June 2022 onwards shall not be entitled to
receive the dividends determined by this decision.

3.        Approval of Remuneration Principles of the Management Board

Supervisory Council's proposal:

To  approve the Remuneration Principles for  the Management Board of the Company
as submitted to the General Meeting.

-----------------------------------

Accepting additional items to the agenda of the Annual General Meeting

Shareholders,  whose shareholding represents at least 1/20 of the share capital,
may  request adding extra  items to the  agenda of the  general meeting provided
that the relevant request is submitted in writing no later than 15 days prior to
the  General Meeting,  i.e. by  19 May 2022 at  the latest.  Shareholders, whose
shareholding  represents at  least 1/20 of  the share  capital, may submit their
draft  resolutions in writing for  each agenda item no  later than 3 days before
the  General Meeting, i.e. by the end of the day (23:59 GMT+3) on 31 May 2022 at
the  latest. The process of exercising those  rights is published in more detail
on  the Company's  website at  www.tallinnavesi.ee (http://www.tallinnavesi.ee),
where also the draft resolutions and reasoning submitted by shareholders will be
published after the receipt thereof.

Requesting information from the Management Board and background information

After  the agenda items of the  General Meeting, including any additional items,
have  been  discussed,  the  shareholders  may  inquire  information  about  the
Company's  activities from the Management Board in accordance with the procedure
published     on     the     Company's     website     at    www.tallinnavesi.ee
(http://www.tallinnavesi.ee). Shareholders have the right to request information
from  the  Company's  Management  Board  also  by e-mail sending their questions
before  the General Meeting. Background information  about the agenda, the 2021
Annual  Report of  the Company,  the Supervisory  Council report,  the Auditor's
report,  the proposal for distribution of profit, the Remuneration Principles of
the   Management   Board,   draft   resolutions   presented   and  shareholders'
clarifications  provided  about  the  additional  agenda  items  along  with the
relevant draft resolutions as well as other information and documents subject to
disclosure  under legal acts, and other  important data regarding the agenda are
available     on     the     Company's     website     at    www.tallinnavesi.ee
(http://www.tallinnavesi.ee). The website also provides an overview of documents
that  the  shareholders  are  required  to  take  along  in  order to be able to
participate in the general meeting (either in person or by proxy).

The  Company's 2021 Annual Report and the Auditor's report are also available on
Nasdaq Baltic's website http://www.nasdaqbaltic.com.

Please  send the questions about the Annual General Meeting of Shareholders, its
agenda,  electronic voting or the appointment of a shareholder representative to
Ms  Laura Korjus, Head  of Communications of  the Company ([email protected]
(mailto:[email protected]),   telephone:   +372 62 62 271). The   questions,
answers  and minutes of the  General Meeting will be  published on the Company's
website. Written notices of appointing shareholder representatives or notices of
withdrawal of authorizations of representatives can also be sent to the above e-
mail address no later than during the working day preceding the General Meeting,
i.e. on 2 June 2022 at the latest.

Appointing a proxy

We  ask everybody, who  are going to  appoint a proxy  for themselves, inform us
about  their intent by 2 June 2022 at the latest and e-mail the digitally signed
proxies  to  [email protected]  (mailto:[email protected]).  In  the  absence  of  the
opportunity  of a digital signature, we ask a scanned copy of the proxy to be e-
mailed  to [email protected] (mailto:[email protected])  and the original  proxy to be
sent by post to the Company at: Ädala 10, 10614 Tallinn, Estonia. The proxy form
is  available  on  the  Company's  website "Investor->Shareholders Meeting->[?]-
>Identification documents required for attending the General Meeting".

Procedure  and Instructions for electronic voting are presented on the Company's
website.

Voting  can be performed  as from the  publication of the  notice of the General
Meeting  until 17:00 ((GMT+3) on  2 June 2022, the day  preceding to the General
Meeting.

Identification  documents required for the  registration of the participants for
the General Meeting

Shareholder   representatives   are   kindly   asked  to  bring  along  a  valid
identification  document and a valid written proxy (see here above "Appointing a
Proxy"). In the case of legal persons, we request you also bring a valid copy of
the  registry card. Each document issued by a foreign country's official must be
either legalized or authenticated with a document certificate apostille and have
a notarised translation into Estonian attached.

The Company will comply with the restrictions set forth by the Government of the
Republic  and the guidelines  of the Health  Board applicable on  the day of the
General Meeting established due to the COVID-19 situation.

The  notice  of  calling  the  General  Meeting  will  be published in the daily
newspaper Eesti Päevaleht on 12 May 2022.

After  the end of the  General Meeting all shareholders  and the journalists may
have  a  guided  tour  in  the  Water  Treatment  Plant  to familiarise with its
processes.  The tour will take  approx. 1,5 hours. We ask  you to inform of your
interest  Laura  Korjus  at [email protected] (mailto:[email protected])
ahead.