Iseteenindus

The initial public offering of Eesti Energia’s renewable subsidiary shares

05.10.2021

NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA, JAPAN, SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.

***

On Tuesday, October 5, 2021, Enefit Green AS, 100% subsidiary of Eesti Energia AS, published an initial public offering, listing and admission to trading prospectus and announced the offering of shares that will last until October 14, 2021. The results of the offering and the distribution of shares are planned to be announced on or about October 15, 2021. Trading in Enefit Green’s shares is expected to begin on the Baltic Main List of Nasdaq Tallinn on or about 21 October 2021. The base size of the offering is up to EUR 115 million, consisting of an issue of up to EUR 100 million by Enefit Green AS and sale of up to EUR 15 million by Eesti Energia AS. The size of the secondary shares to be sold in the offering may be upsized by up to EUR 60 million. In such case, the total deal size may equal up to EUR 175 million, corresponding up to 26.4% of all the shares in Enefit Green.

With the IPO, Enefit Green targets to raise approx. 100 million euros for the purposes of financing its development projects and potential new projects. In particular, Enefit Green plans to use the net proceeds of the IPO for the purposes of developing the wind and solar parks in its near-term pipeline of up to 600 MW.

The Prospectus is available in electronic form as of the date of this announcement on the website of the Enefit Green AS www.enefitgreen.ee/en/ipo, and on the website of the EFSA at www.fi.ee.

***

This announcement must not be forwarded to any person.

This notice is an advertisement and is a prospectus not within the meaning of the Regulation (EU) 2017/1129. Before making an investment decision on the securities referred to in this notice, investors should read the prospectus in order to fully understand the risks and rewards of investing and, if necessary, consult an expert. The issuer's shares are publicly offered only in Estonia, Latvia and Lithuania. The prospectus is available on the Issuer's and FI's websites and www.enefitgreen.ee/iporespectively. Prospekti kinnitamist FI poolt ei tuleks käsitleda väärtpaberite heakskiitmisena.

This communication and the information contained in it are not intended for distribution in or to the United States of America (including its territories and jurisdictions, the United States, and the District of Columbia) ("United States"). This announcement does not constitute an offer or its part or an invitation to purchase or subscribe for securities in the United States. The Issuer's securities are not registered and will not be registered under the US Securities Act of 1933, as amended (in English: U.S. Securities Act of 1933, hereinafter referred to as the "Securities Act"), and may not be offered or sold in the United States unless the securities are registered under the Securities Act or, if it is possible to apply the exemption from the registration requirements of the Securities Act. The Issuer has not registered and does not intend to register any part of the offer in the United States and does not intend to conduct a public offering of securities in the United States. If Shares are sold in the United States, they will only be sold to qualified institutional buyers (as defined in Rule 144A) pursuant to Rule 144A of the Securities Act.

Rasmus Noormägi
Head of Investor Relations and Treasury
Eesti Energia AS
Tel +372 465 2885
rasmus.noormagi@energia.ee