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

The  Supervisory Board of AS  Harju Elekter Group decided  to increase the share
capital  of  the  company  by  34,020 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 5 members of the Management Board of Harju Elekter Group participated
in  the share  issue related  to the  implementation of  the option program, who
subscribed for a total of 54,000 shares for a total of 243,00 euros.

Decisions of the Supervisory Board of AS Harju Elekter Group:

 1. Harju Elekter's share capital will be increased by a maximum of 34,020
    euros, i.e., from 11,671,235.10 euros to 11,705,255.10 euros.
 2. The share capital will be increased by way of issuing 54,000 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 January 9, 2026. After the increase of the
    share capital, Harju Elekter has a total of 18,579,770 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 5 January 2026. The option
    beneficiaries submitted their subscription notes in a timely manner and was
    fully subscribed.
 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