Increase of Share Capital in Connection with Realization of the Employee Option Programm and Subscription Results

The  Supervisory Board of AS  Harju Elekter Group decided  to increase the share
capital  of  the  company  by  17,010 euros  by issuing new ordinary shares. The
increase  in the share  capital is due  to the need  to issue new  shares to the
management board members and key personnel of Harju Elekter and its subsidiaries
participating  in the option program approved with the resolution of the general
meeting on 29 April 2021.

A  total of 4 current and former employees  of Harju Elekter participated in the
share  issue related to the implementation of the option program, who subscribed
for  a total of 27,000 shares for a  total of 121,500 euros.  A total of 57,500
shares were not subscribed.

Decisions of the Supervisory Board of AS Harju Elekter Group:

 1. Harju Elekter's share capital will be increased by a maximum of 17,010
    euros, i.e., from 11,654,225.10 euros to 11,671,235.10 euros.
 2. The share capital will be increased by way of issuing 27,000 new ordinary
    shares (ISIN: EE3100004250) with a book value of 0.63 euros per share. The
    shares will be issued with a share premium. The issue price is 4.50 euros
    per share, with a book value of the share amounting to 0.63 euros and the
    share premium to 3.87 euros.
 3. The increase in the share capital and payment for the new shares will be
    carried out fully by way of monetary contribution. The payment deadline for
    the newly subscribed shares is July 4, 2025. After the increase of the share
    capital, Harju Elekter has a total of 18,525,770 ordinary shares without
    nominal value.
 4. Pursuant to the resolution of the general meeting of 29 April 2021, which
    approved Harju Elekter's share option program and its basic conditions, the
    pre-emptive right to subscribe for new shares belongs to the management
    board members and key personnel of Harju Elekter and its subsidiaries, as
    determined by the supervisory board of Harju Elekter, with whom the
    respective option agreements have been concluded.
 5. Harju Elekter's shareholders, who are not covered by the share option
    program, shall not have any pre-emptive right to subscribe for new shares
    issued during the increase of the share capital.
 6. The due date for exercising the pre-emptive right of subscription and the
    due date for subscribing to shares was 25 June 2025. The option
    beneficiaries submitted their subscription notes in a timely manner. As part
    of the new share issue of Harju Elekter, 10 option holders did not submit
    their subscription applications, and 1 option holder subscribed only
    partially for the options granted under their option agreement. The
    unsubscribed options, in total amounting to 57,500, will be cancelled.
 7. The increase of Harju Elekter's share capital will not create any exceptions
    or special rights in connection with the ordinary shares. The new shares to
    be issued during the increase of share capital shall grant the right to
    dividend for the financial year starting on 1 January 2025.

All  new shares of Harju Elekter issued during the share issue will be listed on
Nasdaq  Tallinn on the day  following the date on  which the additionally issued
shares  with  temporary  ISINs  have  been  included  in  the  Estonian  Central
Securities  Depository (Nasdaq CSD)  together with the  previously issued shares
with main ISINs.

Tiit Atso
Chairman of the Management Board

+372 674 7400