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Baltic Horizon Fund – Notice of Annual General Meeting and related change in Financial Calendar

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Northern  Horizon Capital AS invites Baltic  Horizon Fund unit-holders to attend
the  Annual General  Meeting (AGM)  on 21 May  2019 at 10:00 at  Coca Cola Plaza
cinema,  Hobujaama 5, 10151, Tallinn, Estonia. Registration for the meeting will
begin at 09:00.

The time of the AGM also results to a change in the financial calendar of Baltic
Horizon Fund, as the AGM will be held in week 21 instead of previously announced
week 20. Updated financial calendar is available on Baltic Horizon Fund webpage.

The AGM is convened in accordance with sections 8.3, 8.7, 10.3.3, 10.4 and 10.6
of the Rules of Baltic Horizon Fund and section 47-1 of the Investment Funds Act
of Estonia.

The  total number of units and votes in  Baltic Horizon Fund at the date of this
notice amounts to 94,196,197.

Agenda

 1. Presentation of the FY2018 annual report together with the auditor's report
    of Baltic Horizon Fund, and interim report of Q1 2019;
 2. Prolongation of the term of a supervisory board member.

Unit-holders  are invited to  send questions and  comments on the  agenda to the
Baltic  Horizon  Fund  manager,  at  [email protected]  by  14 May 2019.
Northern  Horizon  Capital  AS  will  respond  to  questions and comments at the
meeting.

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 10 May 2019, 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  10 May 2019 to  [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 on 10 May 2019 to bhfmeeting@nh-
cap.com.  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]
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 also  be 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 certifying the authority of the unit-holder's representative
or the signatory of the power of attorney will also be 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 items

 1. Presentation of the FY2018 annual report together with auditor's report of
    the Fund, and interim report of Q1 2019;
 2. Prolongation of the term of a supervisory board member

To  prolong  the  term  of  supervisory  board  member  David  Bergendahl for an
indefinite period.

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