Tallinn Circuit Court dismissed the appeal of MPG AgroProduction OÜ

On  28 November 2023, AS  Tallinna Sadam  (hereinafter referred  to as "Tallinna
Sadam")  submitted  an  application  to  initiate  bankruptcy proceedings of MPG
AgroProduction  OÜ (hereinafter referred  to as "MPG").  On 19 January 2024, the
debtor   submitted   its   reorganization   application.   On  12 August  2024,
reorganization  proceedings of MPG were terminated  by the Supreme Court's order
and on 15 October 2024 the bankruptcy of MPG was declared. On 14 November 2024,
MPG filed an appeal with the Tallinn Circuit Court against the bankruptcy order.
On  9 September 2025, the Tallinn Circuit Court  decided to dismiss MPG's appeal
and  to leave  the resolution  of the  Harju County  Court's order of 15 October
2024 unchanged.

Bankruptcy  proceedings  were  initiated  based  on the application submitted by
Tallinna  Sadam, as MPG had not fulfilled its contractual obligations for a long
period  of time. The  claims of Tallinna  Sadam to MPG  have been discounted and
Tallinna  Sadam requests  the exemption  of its  own property  from the building
title.

More  information about the initiation of  bankruptcy proceedings is provided in
the stock exchange announcement published by Tallinna Sadam on 13 December 2023
(https://view.news.eu.nasdaq.com/view?id=b61a17ca18cc95addaa018e546ac60116&lang=
en)                    and                    24 October                   2024
(https://view.news.eu.nasdaq.com/view?id=b772abd1d70b4fd82a62a249540ab0247&lang=
en&src=listed).

Tallinna  Sadam is one of the largest cargo- and passenger port complexes in the
Baltic Sea region. In addition to passenger and freight services, Tallinna Sadam
group  also operates in  shipping business via  its subsidiaries -  OÜ TS Laevad
provides  ferry services between the Estonian  mainland and the largest islands,
and  OÜ TS Shipping charters its  multifunctional vessel Botnica for icebreaking
and  offshore services in  Estonia and projects  abroad. Tallinna Sadam group is
also  a  shareholder  of  an  associate  AS  Green  Marine, which provides waste
management services.

Additional information:

Angelika Annus
Head of Investor Relations
Tel. +372 5649 6230
[email protected] (mailto:[email protected])