The results of the voluntary takeover offer made by Eesti Energia AS in respect of the shares of Enefit Green AS

On  7 April 2025, a shareholder  of Enefit Green  AS, Eesti Energia AS (registry
code:  10421629, "Offeror"), notified  of making  a voluntary  takeover offer to
acquire  all shares  of Enefit  Green AS  not in  the ownership  of the Offeror.
Today,  on  14 May  2025, the  Offeror  published  the  results of the voluntary
takeover offer.

Below  we publish  the Offeror's  notice regarding  the results of the voluntary
takeover offer as it was originally made by the Offeror.


The  results of the  voluntary takeover offer  made in respect  of the shares of
Enefit Green AS

Eesti  Energia  AS  ("Offeror")  made  a  voluntary  takeover  offer  to all the
shareholders of Enefit Green AS ("Enefit Green") for acquiring all the shares of
Enefit  Green ("Shares") not yet in the  ownership of the Offeror ("Offer"). The
Offer  was made based  on the offer  notice ("Offer Notice")  and the prospectus
attached   to   it   ("Prospectus",  together  with  the  Offer  Notice,  "Offer
Documents").

The  Estonian Financial Supervision and  Resolution Authority approved the Offer
on  7 April 2025 and  the Offer  Documents were  published on  7 April 2025. The
Offer commenced on 8 April 2025 at 10:00 and ended on 12 May 2025 at 16:00.

The  purchase price offered by the Offeror within the Offer was EUR 3.40 per one
Share (the "Purchase Price").

As  a response to the Offer the  shareholders participating in the Offer decided
to   sell  to  the  Offeror  in  total  52,940,905 Shares  that  corresponds  to
approximately 20%  of  all  the  Shares.  The  Offeror  gives  its acceptance to
conclude  the sales contracts with all the shareholders that participated in the
Offer on terms provided in the Prospectus.

The  payment of the Purchase Price to  all the shareholders participating in the
Offer  and transfer of the Shares to the Offeror takes place on 16 May 2025 (the
"Value Date") in accordance with the procedure described in the Offer Documents.
On  the Value Date each shareholder participating in the Offer shall be paid the
amount  of the Purchase Price corresponding to  the number of the Shares sold by
that shareholder against the transfer of such Shares.

Before publishing the Offer Documents and as of the end of the last day of Offer
the  Offeror held  in total  203,931,405 Shares that  amounted to  77.17% of all
Shares.  As a  result of  the Offer,  the Offeror  acquires in total 52,940,905
Shares  that amounts to  approximately 20% of all  Shares. After the Value Date,
the Offeror, thus, owns in total 256,872,310 Shares that amounts to 97,2% of all
Shares.  Thus, the  Offeror acquires  as a  result of  the Bid a shareholding in
Enefit  Green due to which  at least 9/10 of the  voting share capital of Enefit
Green is represented by Shares held by it and the Suspensive Condition described
in clause 2.6 of the Prospectus has been realised and fulfilled.

Accordingly,  the Offeror  applies for  the takeover  of the remaining Shares in
accordance  with  the  provisions  of  182(1) of  the  Securities Market Act and
Chapter  29(1) of the Commercial Code.  To this end, the  Offeror will prepare a
takeover report explaining and justifying the conditions for the transfer of the
shares  held  by  the  minority  shareholders  and the basis for determining the
amount  of compensation to be paid for  the shares. Following the preparation of
the  takeover report and their auditor's report, the Offeror will request Enefit
Green to convene a meeting of the shareholders to decide on the takeover and the
delisting  of  the  Shares  from  Nasdaq  Tallinn  Stock  Exchange. Prior to the
shareholders'  meeting,  the  shareholders  will  be  given at least one month's
access  to the draft resolutions  of the General Meeting,  the annual reports of
Enefit  Green for the last  three years, the takeover  report, and the auditor's
report.

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