Correction: Notice to convene the Annual General Meeting of Shareholders of Aktsiaselts Tallinna Vesi
Date correction in the following sentence: The list of shareholders entitled to vote at the General Meeting will be established 7 days prior to the General Meeting, i.e., as of 16 April 2026 at the closure of business day of the Nasdaq CSD Estonia’s settlement system.
The Management Board of AS TALLINNA VESI (registry code 10257326, Ädala 10, 10614 Tallinn) (hereafter also referred to as ‘the Company’) announces that the Annual General Meeting of Shareholders of the Company will be held on Thursday, 23 April 2026 at 10:00 (UTC+3), in the Blue Auditorium at the Ülemiste Water Treatment Plant (address: Järvevana tee 3, Tallinn, Estonia). Registration for shareholders wishing to attend the Annual General Meeting in person will open at 09:30 (UTC+3) on 23 April 2026 at the venue of the General Meeting. Registration will end at 10:00 (UTC+3).We kindly ask shareholders and their representatives to arrive in good time, bearing in mind the time required for registration. The organisers of the meeting reserve the right to not take late requests to register and attend the meeting into account.
The list of shareholders entitled to vote at the General Meeting will be established 7 days prior to the General Meeting, i.e., as of 16 April 2026 at the closure of business day of the Nasdaq CSD Estonia’s settlement system.
The Supervisory Council has approved the agenda of the Annual General Meeting of Shareholders with the following proposals:
1. Approval of the Annual Report for 2025
Proposal of the Supervisory Council:
To approve the consolidated Annual Report of the Company for 2025, as presented to the General Meeting.
2. Distribution of profit
Proposal of the Supervisory Council:
The net profit of the Company for 2025 is €14,242 thousand. To distribute €11,400 thousand of the Company’s retained earnings of €85,783 thousand as of 31/12/2025 (incl. from the consolidated net profit of €14,242 thousand for the year 2025). Shareholders will receive €0.57 per share in dividends.
The remainder of the retained earnings will remain undistributed.
No allocations will be made from the net profit to the reserve capital.
Based on the dividend proposal made by the Management Board, the Supervisory Council proposes to the shareholders that the shareholders receive dividends on 20 May 2026. The list of shareholders entitled to dividends will be established at the end of the business day of the Nasdaq CSD settlement system on 12 May 2026. Consequently, the date of change in rights attached to the shares (ex-dividend date) is 11 May 2026. Anyone acquiring shares on or after 11 May 2026 will not be entitled to the dividends determined by this resolution.
3.Election and recall of Supervisory Council members
Proposal of the Supervisory Council:
3.1. Recall of Mart Mägi as a Supervisory Council Member
To recall Mart Mägi from his position as a Supervisory Council member with effect from 23/04/2026.
3.2 Election of Priit Lello as a Supervisory Council member
To elect Priit Lello as a Supervisory Council member for a statutory three-year term of office, with effect from 24/04/2026.
3.3 Extension of Gerli Kivisoo 's term as a Supervisory Council member
To extend Gerli Kivisoo´s term as a Supervisory Council member for a further statutory three-year term of office, with effect from 02/06/2026.
4. Approval of a gender balance target within the Company´s management bodies
Proposal of the Supervisory Council:
To set a gender balance target pursuant to subsection 1 of § 1356 of the Securities Market Act to ensure that at least 33% of all seats on the Management Board and Supervisory Council of the Company are held by members of the underrepresented sex.
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Accepting additional items to the General Meeting agenda
Shareholders with their shares representing at least 1/20 of the share capital may make proposals regarding agenda items and request adding extra items to the General Meeting agenda, provided that this request is submitted electronically (e-mail: tvesi@tvesi.ee) and digitally signed, no later than 15 days prior to the General Meeting, i.e., by 8 April 2026 at the latest. Shareholders with their shares representing at least 1/20 of the share capital may submit their draft resolutions for each agenda item electronically (e-mail: tvesi@tvesi.ee) and with a digital signature, no later than 3 days prior to the General Meeting, i.e., before the end of the day (23:59 UTC+3) on 20 April 2026 at the latest. The process of exercising those rights is published in more detail on the Company’s website at www.tallinnavesi.ee, under the ‘Investor->Shareholders Meeting->23/04/2026’ section. The draft resolutions and reasoning submitted by shareholders will also be published there after receipt.
Requesting information from the Management Board and background information
After the General Meeting agenda items have been discussed, including any additional items, shareholders may request information about the Company’s activities from the Management Board. This can be done in accordance with the procedure published on the Company’s website at www.tallinnavesi.ee, under the ‘Investor->Shareholders Meeting->23/04/2026’ section. Shareholders may also request information from the Company’s Management Board by e-mail, sending their questions before the General Meeting by 17:00 (UTC+3) on 22 April 2026 at the latest. Background information regarding the agenda (incl. the notice to convene the General Meeting), the Annual Report of the Company for 2025, the Supervisory Council report, the Auditor’s report, the proposal for distribution of profit, reasonings regarding agenda items alongside respective draft resolutions, and any other information and documents subject to disclosure under legal acts, as well as other important information regarding the agenda, is available on the Company’s website at www.tallinnavesi.ee, under the ‘Investor->Shareholders Meeting->23/04/2026’ section. The website also provides an overview of the documents that shareholders must bring with them to attend the General Meeting (either in person or by proxy), as well as information provided in § 2941 of the Commercial Code. The Annual Report of the Company for 2025 and the Auditor’s report are also available on Nasdaq Baltic’s website at http://www.nasdaqbaltic.com.
If you have any questions regarding the Annual General Meeting of Shareholders, its agenda, electronic voting or the appointment of a shareholder representative, please contact Melika Kiilmaa, Head of Legal of the Company (melika.kiilmaa@tvesi.ee, telephone: +372 6262 200). Questions, answers and minutes from the General Meeting will be published on the Company’s website www.tallinnavesi.ee, under the ‘Investor->Shareholders Meeting->23/04/2026’ section. Notices of the appointment or withdrawal of a shareholder representative must be digitally signed or notarised and sent to the above e-mail address no later than 17:00 (UTC+3) on the business day preceding the General Meeting, i.e., 22 April 2026.
Appointing a proxy
If you are going to appoint a proxy, please inform us of your intention by 17:00 (UTC+3) on 22 April 2026 at the latest, and e-mail the digitally signed proxies to tvesi@tvesi.ee. If you are unable to obtain a digital signature, please e-mail a copy of the notarised proxy to tvesi@tvesi.ee and send the original proxy by post to the Company at: Ädala 10, 10614 Tallinn, Estonia, by 17:00 (UTC+3) on 22 April 2026 at the latest. The proxy form is available on the Company’s website www.tallinnavesi.ee, under the ‘Investor->Shareholders Meeting->23.04.2026->Proxy form’ section.
Electronic voting
The possibility to vote in advance using electronic means will be open from the time the notice to convene the General Meeting is published until 17:00 (UTC+3) of the day preceding the General Meeting (22 April 2026), by using the ballot paper published on the Company’s website www.tallinnavesi.ee, under the ‘Investor->Shareholders Meeting->23/04/2026’ section, and by sending the properly completed and digitally signed ballot paper by e-mail to tvesi@tvesi.ee. Shareholders who vote using electronic means will be deemed to have attended the General Meeting, and their votes represented by shares will be counted in the quorum of the General Meeting. The detailed procedure and instructions for voting in advance using electronic means are published on the Company’s website www.tallinnavesi.ee, under the ‘Investor->Shareholders Meeting->23/04/2026’ section. It is not possible to attend the General Meeting using electronic means without being physically present at the General Meeting.
Documents proving identity and right of representation required to attend the General Meeting
Shareholders are kindly requested to bring a valid identification document. Shareholder representatives are kindly requested to bring a valid identification document and a valid, digitally signed or notarised proxy (see the ‘Appointing a proxy’ section above). If you are a foreign legal person, please also bring an extract from the valid registry card showing your right of representation. Each document issued by an official in a foreign country must either be legalised or authenticated with a document certificate (apostille) and have an attached certified translation into Estonian by a sworn translator.
The notice to convene the General Meeting will be published in the daily newspaper Postimees on 31 March 2026.
The minutes of the General Meeting will be made available on the Company’s website www.tallinnavesi.ee, under the ‘Investor->Shareholders Meeting->23/04/2026’ section, no later than seven days after the meeting.
Aleksandr Timofejev
Chairman of the Management Board
Aktsiaselts Tallinna Vesi
(+372) 6262 200
aleksandr.timofejev@tvesi.ee
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