EfTEN Real Estate Fund III AS founded a subsidiary

EfTEN Real Estate Fund III AS founded a 100% subsidiary in Estonia with the business name EfTEN Tähesaju tee OÜ. The purpose of the founding a new subsidiary is to complete the acquisition of a registered immovable (registry no. 11376050, cadastral number 78401:101:3633, area 11,551 m²), located at Tähesaju 5, Tähesaju shopping centre in Lasnamäe, Tallinn; in this regard, the application was submitted to the Estonian Competition Authority. The management board members of the subsidiary are Viljar Arakas and Tõnu Uustalu. The company has no supervisory board.

Founding the subsidiary cannot be interpreted as acquiring of a major holding for the purposes of the NASDAQ OMX Tallinn Rules and Regulations section “Requirements for Issuers”. The members of the Management Board and Supervisory Board of EfTEN Real Estate Fund III AS have no other personal interest in the transaction.

Viljar Arakas

Member of the Management Board

Phone 655 9515

E-mail: [email protected]

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