Delfin Group — Major Shareholding Notification 2025

Nov 12, 2025

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Annex No.1 Latvijas Banka's Normative rules No. 245, from 03.07.2023.

Form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the competent authority)

1. Identity of the issuer or the underlying issuer of existing shares to which voting rightsare attachedi:
AS "DelfinGroup"registration number: 40103252854legal adress: Skanstes iela 50A, Rīga, Latvija, LV-1013LEI code: 2138002PKHUJIMVMYB13
2. Reason for the notification (please tick the appropriate box or boxes):
[X] An acquisition or disposal of voting rights[ ] An acquisition or disposal of financial instruments[ ] An event changing the breakdown of voting rights[ ] Other (please specify)ii:
3. Details of person subject to the notification obligationiii:
Name:		Legal address – city and country (applies to legal entities):
Aigars Kesenfelds
4. Full name of shareholder(s) (if different from 3.)iv:
AS ALPPES Capital
5. Date on which the threshold was crossed or reachedv10.11.2025.			:
6. Total positions of person(s) subject to the notification obligation:
	% of votingrights attached tosharesvi (total of 7.A)		% of voting rightsthrough financial instruments(total of 7.B.1 +7.B.2)	Total of bothin % (7.A +7.B)	Total number ofvoting rights of issuervii
Resulting situationon the date onwhich threshold wascrossed or reached	28.87			28.87	45 448 915
Position of previousnotification (if applicable)	18.35			18.35

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7. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii**:**

A: Voting rights attached to sharesvi

Class/type ofsharesISIN code (if possible)	Number of voting rightsix		% of voting rightsix
	Direct	Indirect(Section 8 of FinancialInstrument MarketLaw)	Direct	Indirect(Section 8 ofFinancial InstrumentMarket Law)
Bearer shares (ISINLV0000101806)		13 119 744		28.87
SUBTOTAL A		13 119 744		28.87

B 1: Financial Instruments according to Section 60(1)(3) and Section 60(4) of Financial Instrument Market Law

Type of financialinstrument	Expirationdatex	Exercise/Conversion Periodxi	Number of votingrights that may beacquired if the instrument is exercised/ converted.	% of voting rights
		SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Section 60(5) of Financial Instrument Market Law
Type of financial instrument	Expirationdatex	Exercise/Conversion Period xi	Physical orcash settlementxii	Numberof votingrightsxiii	% ofvotingrightsxiii
			SUBTOTAL B.2

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• 8. Information in relation to the person subject to the notification obligation (please tick the applicable box):
• **[] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.**xiii
• [X] Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv**:**

Namexv	% of votingrights if itequals or ishigher than thenotifiablethreshold	% of voting rightsthrough financial instruments if it equalsor is higher than thenotifiable threshold	Total of both if itequals or is higherthan the notifiablethreshold
Aigars Kesenfelds	0		0
AS ALPPES Capital	28.87		28.87

9. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number**] voting rights as of [date]** xvii

10. Additional informationxviii**:**

For informational purposes it is noted that on 11 November 2025 AS ALPPES Capital acquired additional 420 000 shares of AS "DelfinGroup", together with the corresponding number of voting rights attached to those shares. Although this transaction does not result in reaching a new notification threshold in accordance with the provisions of the Financial Instrument Market Law of the Republic of Latvia, for the sake of transparency, following the above-mentioned transaction, AS ALPPES Capital owns a total of 13 539 744 AS "DelfinGroup" shares and the same number of voting rights, representing 29.79% of the company's voting share capital. Accordingly, following the aforementioned transaction, the indirect shareholding of Aigars Kesenfelds amounts to a total of 13 539 744 voting rights in AS "DelfinGroup", representing 29.79% of the company's voting share capital.

Aigars Kesenfelds
		Riga, date and time can be seen in the time stamp of electronic signature of the document.

DOCUMENT IS SIGNED WITH A SECURE ELECTRONIC SIGNATURE AND CONTAINS A TIME STAMP