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Unaudited financial report for the second quarter and 6 months of 2022 and notice of calling the extraordinary general meeting of shareholders of AS Trigon Property Development

Teade

Unaudited financial report for the second quarter and 6 months of 2022

The  main business  activity of  Trigon Property  Development AS  is real estate
development.   As  at  30.06.2022, AS  Trigon  Property  Development  owned  one
development project with an area of 12.8 hectares in the City of Pärnu, Estonia.
A  commercial,  industrial  and  logistics  park  is  planned  on this area. The
Company's  objective  is  to  find  companies  willing  to  bring their business
activities  (industry, logistics) to  the development project  area of AS Trigon
Property  Development in Pärnu, which would add value to the land plots owned by
the  Company. As the main purpose of the company is to sell existing land plots,
investment property was recognized as inventories.

In the first quarter of 2021, a 3.43-hectare property was sold for 824,040 euros
(excluding VAT).

In the first quarter of 2022, a 0.53-hectare property was sold for 213,200 euros
(excluding VAT).

In the second quarter of 2022, a 1.0-hectare property was sold for 401,280 euros
(excluding VAT).

Condensed  statement of financial  position as of  30 June 2022 delivered by the
present  announcement  completely  reflects  the  assets, liabilities and equity
capital of AS Trigon Property Development.

According  to the condensed statement of comprehensive income the net profit for
first  6 months of 2022 of  AS Trigon Property  Development is 179,942 euros and
the earnings per share is 0.04 EUR.

As  of 30 June 2022 the assets of AS Trigon Property Development were 2,190,431
euros.  The equity of the company  was 1,958,144 euros, corresponding to 89.04 %
of the total balance sheet.

Condensed statement of financial position

+------------------------------+------------+------------+
| EUR                          | 30.06.2022 | 31.12.2021 |
+------------------------------+------------+------------+
| Cash and cash equivalents    |    234,947 |    938,858 |
+------------------------------+------------+------------+
| Trade and other receivables  |    477,306 |    166,825 |
+------------------------------+------------+------------+
| Inventories                  |  1,478,177 |  1,452,989 |
+------------------------------+------------+------------+
| Total current assets         |  2,190,431 |  2,558,672 |
+------------------------------+------------+------------+
| TOTAL ASSETS                 |  2,190,431 |  2,558,672 |
+------------------------------+------------+------------+
| Trade and other payables     |    232,287 |    195,593 |
+------------------------------+------------+------------+
| Total current liabilities    |    232,287 |    195,593 |
+------------------------------+------------+------------+
| Total liabilities            |    232,287 |    195,593 |
+------------------------------+------------+------------+
| Share capital at book value  |    449,906 |    449,906 |
+------------------------------+------------+------------+
| Share premium                |    226,056 |    226,056 |
+------------------------------+------------+------------+
| Statutory reserve capital    |    287,542 |    287,542 |
+------------------------------+------------+------------+
| Retained earnings            |    994,639 |  1,399,575 |
+------------------------------+------------+------------+
| Total equity                 |  1,958,144 |  2,363,079 |
+------------------------------+------------+------------+
| TOTAL LIABILITIES AND EQUITY |  2,190,431 |  2,558,672 |
+------------------------------+------------+------------+



Condensed statement of comprehensive income

+----------------------------------------------+----------+----------+
| EUR                                          | 6 M 2022 | 6 M 2021 |
+----------------------------------------------+----------+----------+
| Revenue                                      |  614,480 |  205,000 |
+----------------------------------------------+----------+----------+
| Costs of goods sold                          | -259,267 |  -74,314 |
+----------------------------------------------+----------+----------+
| Gross profit                                 |  355,213 |  130,686 |
+----------------------------------------------+----------+----------+
| Administrative and general expenses          |  -40,735 |  -39,707 |
+----------------------------------------------+----------+----------+
| Changes in fair value of investment property |        0 |   88,040 |
+----------------------------------------------+----------+----------+
| Other operating income                       |        0 |      100 |
+----------------------------------------------+----------+----------+
| Operating profit                             |  314,478 |  179,119 |
+----------------------------------------------+----------+----------+
| Financial income                             |       45 |       44 |
+----------------------------------------------+----------+----------+
| PROFIT BEFORE INCOME TAX                     |  314,522 |  179,163 |
+----------------------------------------------+----------+----------+
| Income tax expense                           | -134,580 |        0 |
+----------------------------------------------+----------+----------+
| TOTAL COMPREHENSIVE PROFIT                   |  179,942 |  179,163 |
+----------------------------------------------+----------+----------+



Notice of calling the extraordinary general meeting of shareholders of AS Trigon
Property Development

AS  Trigon Property Development (registry  code 10106774, address Pärnu mnt 18,
Tallinn  10141, hereinafter  the  ?Company")  calls  the  extraordinary  general
meeting  of Company's shareholders, which shall be held at 14:00 on 29 September
2022 (here and hereafter Estonian time, GMT+3) at the Company's office, at Pärnu
mnt  18, Tallinn, 10141, IV floor. Registration for the meeting starts at 13:00
on the date of the meeting.

Agenda of the meeting and the Management Board proposals for the draft
resolutions to be adopted, which have been approved by the Supervisory Board:

 1. Proposal of dividend payment

To  pay dividends to the shareholders in  the amount of 134 972 Euros i.e. 0.03
Euros  per share. The list of shareholders entitled to receive dividends will be
established  as at 14 October 2022 as  at the end of  the business day of Nasdaq
CSD's  Estonian settlement system. Consequently, the day of change of the rights
related  to the shares  (ex-dividend date) is  set to 13 October 2022. From this
day  onwards, persons acquiring  the shares will  not have the  right to receive
dividends. Dividends shall be disbursed to the shareholders on 20 October 2022.

Organisational matters

Participation at the meeting

The  list of shareholders entitled to participate in the general meeting will be
determined  as of 7 days  prior to the  general meeting, i.e.  at the end of the
working  day of the Nasdaq CSD Estonian settlement system on 22 September 2022.
Registration  of participants  will start  an hour  before the  beginning of the
meeting,  i.e. at  13:00. We ask  the shareholders  and their representatives to
arrive  in good  time, taking  into account  the time  required to  register the
participants.

For participating in the general meeting, we kindly ask you to present:

 1. Individual shareholders should submit an identity document, their
    representatives should also hold a valid written authorisation;
 2. legal representatives of corporate shareholders should submit their identity
    document; the authorised representative should also hold a valid written
    authorisation document. In case the corporate shareholder is not registered
    in the Estonian Commercial Register, we ask to provide a valid extract from
    the relevant register where the legal person is registered and from which
    the representative's right to represent the shareholder arises. The extract
    must be in English or translated into Estonian or English by a sworn
    translator or an official equivalent to sworn translator. The documents of a
    foreign shareholder must be legalised or authenticated by apostille, unless
    otherwise provided by an international agreement. The Company may also deem
    the shareholder's voting right to be proven, if all the required information
    on the legal person and the representative concerned are given in a
    notarised power of attorney, issued to the representative in a foreign
    country, and the power of attorney is recognised in Estonia.

The  shareholder may notify  the Company of  the appointment of a representative
and  the revocation of  the proxy by  sending the documents  to Company's e-mail
address [email protected]
(https://www.globenewswire.com/Tracker?data=wN3CV2cKvFbAUqTMJhguW6xmQnZ9FFUMQYs0
Y995BjR35jvRI3HcEIvwUy79C-8m3TTBDm0qWTZBQzRYEQuxbj5zKP9-fPiY0adYVuhKnQk=)  or
take  the  above  documents  to  the  Company's office at Pärnu mnt 18, Tallinn,
10141, IV  floor,  weekdays  between  9:00 am  -  5:00 pm  by  no later than 28
September 2022 at 17:00 (Estonian time).

In order to authorise a representative, the shareholder may use the template for
power   of   attorney,   which   is   published   on   the   Company's  homepage
http://www.trigonproperty.com/ and   attached  to  the  notice  of  adoption  of
resolutions  on  Nasdaq  Baltic  stock  exchange  homepage (www.nasdaqbaltic.com
(http://www.nasdaqbaltic.com)).  Templates for revocation of  the proxy are also
available at the same place.

Shareholders,  whose shares represent at least  1/20 of the share capital of the
Company,  may demand  the inclusion  of additional  items on  the agenda  of the
extraordinary  general meeting, if the corresponding request is filed in writing
at  least 15 days prior to  the general meeting, i.e.  at the latest by 23:59 on
14 September     2022, at    the    e-mail    address    [email protected]
(https://www.globenewswire.com/Tracker?data=wN3CV2cKvFbAUqTMJhguW6xmQnZ9FFUMQYs0
Y995BjR35jvRI3HcEIvwUy79C-8m3TTBDm0qWTZBQzRYEQuxbj5zKP9-fPiY0adYVuhKnQk=)  or to
the Company's office at Pärnu mnt 18, Tallinn, 10141, IV floor. A draft decision
or  rationale must be submitted  at the same time  as the proposal to supplement
the agenda.

Shareholders,  whose shares represent at least  1/20 of the share capital of the
Company,  may submit to the Company in writing a draft resolution on each agenda
item,  by  posting  the  draft  to  the  e-mail  address [email protected]
(https://www.globenewswire.com/Tracker?data=wN3CV2cKvFbAUqTMJhguW6xmQnZ9FFUMQYs0
Y995BjR35jvRI3HcEIvwUy79C-8m3TTBDm0qWTZBQzRYEQuxbj5zKP9-fPiY0adYVuhKnQk=)  or to
the  Company's office at Pärnu mnt  18, Tallinn, 10141, IV floor. The draft must
be  submitted in electronic form or by post so that it would be delivered to and
received by the Company no later than 3 days before the general meeting, i.e. by
23:59 on 26 September 2022 at the latest.

At  the general meeting, shareholders are entitled to receive information on the
activities of the company from the Management Board. Management Board may refuse
to  provide information if there are reasonable grounds for assuming that it may
cause  significant damage  to the  interests of  the company.  In case the board
refuses  to provide information, the shareholder may require the general meeting
to  decide on  the lawfulness  of the  request or  to submit within two weeks an
application to the court in petition proceedings, to oblige the Management Board
to disclose information.

Documents related to the resolutions

Documents,  concerning  the  general  meeting,  draft  decisions  of the general
meeting,  as well as other information  subject to disclosure, are available for
examination  as attached to the stock  exchange announcement about the notice of
adoption   of   resolutions   published   on   Nasdaq   Baltic   stock  exchange
homepage nasdaqbaltic.com
(https://www.globenewswire.com/Tracker?data=zWLtMSihee8iv_WQdFw1zSPxww3mynXiFlkY
HBthD7G-qMzpWRGfC0_8ExITOSQmIFQ139U8Er1VWRcs5-lq8sTMkSWvu-SC0tjPbdWQzfo=),    on
the Company´s website http://www.trigonproperty.com/, as well as on prior notice
beginning  from the  notification of  the general  meeting until  the day of the
general meeting at Company's office at Pärnu mnt 18, Tallinn, 10141, IV floor on
working  days  from  9:00 am  untill  5:00 pm.  Please  contact us in advance at
[email protected]  (mailto:[email protected]) to  request access to
the documents.

Information on shares and total number of votes, linked to the shares

As  of 31 August  2022, the share  capital of  AS Trigon Property Development is
divided  into  4,499,061 shares  with  no  nominal  value. Each share grants its
holder one vote.

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: [email protected]
(https://www.globenewswire.com/Tracker?data=wN3CV2cKvFbAUqTMJhguW6xmQnZ9FFUMQYs0
Y995BjR35jvRI3HcEIvwUy79C-8m3TTBDm0qWTZBQzRYEQuxbj5zKP9-fPiY0adYVuhKnQk=)