Additional explanations in relation to the takeover of shares of minority shareholders for conducting merger and delisting of shares

AS Baltika (hereinafter “Baltika”) hereby notifies that, in connection with the extraordinary general meeting of shareholders of Baltika scheduled for 27.07.2023, the agenda of which includes deciding on the approval of the merger agreement between Baltika and its main shareholder KJK BLTK Holding AS (hereinafter the “Main Shareholder”), the takeover of shares of minority shareholders and delisting of shares of Baltika, the management of Baltika has, in cooperation with the Main Shareholders, prepared certain additional explanations in respect of the takeover of the shares of minority shareholders and delisting of shares, which in the view of the management of Baltika could be of help in developing an understanding on the background and legal framework of the processes being the subject matter of the agenda of the general meeting scheduled for 27.07.2023.

The referred explanations have been prepared by Baltika in the form of questions and answers (Q&A) available on Baltika’s website .

The management of Baltika hereby notes that the referred explanations have been prepared based on the previously published information and are hereby made public by the management of Baltika on voluntary basis and do not constitute a part of any documents or information required to be published in relation to the 27.07.2023 general meeting under the Commercial Code, any other legal acts or the rules of Nasdaq Tallinn Stock Exchange, but are composed and published with the sole purpose of easing the development of a better understanding of the shareholders concerning the processes in question, also taking into account the public attention the processes have attracted.

Brigitta Kippak

Chairman of the Management Board, CEO