Notice of convening Annual General Meeting of shareholders of Tallinna Kaubamaja Grupp AS

The Management Board of Tallinna Kaubamaja Grupp AS (registry code 10223439, seat Kaubamaja 1, 10143 Tallinn), convenes an annual general meeting of shareholders on 20 March 2020 at 13:00, in the Conference centre of Nordic Hotel Forum, situated at Viru väljak 3, Tallinn.

Registration of the participants begins on 20 March 2020 at 12:30. The list of shareholders entitled to participate in the general meeting will be determined as at seven days before holding the general meeting, i.e. as at 13 March 2020 at the end of the working day of the Nasdaq CSD Estonian Settlement System.

The Supervisory Board of Tallinna Kaubamaja Grupp AS has determined the following agenda of the annual general meeting and makes the following proposals:

1. Approval of the annual report of 2019 of Tallinna Kaubamaja Grupp AS

To approve the annual report of Tallinna Kaubamaja Grupp AS for 2019 prepared by the Management Board of Tallinna Kaubamaja Grupp AS and approved by the Supervisory Board, according to which the consolidated balance sheet of Tallinna Kaubamaja Grupp AS as at 31.12.2019 is 522,313 thousand euros, the sales revenue for the accounting year is 717,223 thousand euros and the net profit 31,137 thousand euros.

2. Distribution of profit

To approve the profit distribution proposal of 2019 of Tallinna Kaubamaja Grupp AS, presented by the Management Board and approved by the Supervisory Board, as follows:

Retained profits of previous years	84,457 thousand euros
Net profit of 2019	31,137 thousand euros
Total distributable profit as at 31.12.2019	115,594 thousand euros
To pay dividends 0.73 euros per share	29,732 thousand euros
Retained profits after distribution of profits	85,862 thousand euros

The list of shareholders with a right to receive dividends shall be fixed as at 3 April 2020 at the end of the working day of the Nasdaq CSD Estonian Settlement System. Dividends shall be paid to the bank accounts of shareholders via transfer on 6 April 2020.