PRFoods

Capital/Financing Update • May 24, 2021

Company Type Category Disclosure time AS PRFoods Company Release Other corporate action 24 May 2021 16:41:51 +0300

Currency

Decisions of the Meeting of Noteholders of AS PRFoods Title

By a company announcement published on 07.05.2021, AS PRFoods (registry code 11560713, registered address at Pärnu mnt 141, 11314 Tallinn, Estonia; "PRFoods") convened a meeting (the "Meeting") of persons holding the notes (the "Noteholders") of PRFoods, due on 22 January 2025 and bearing ISIN code EE3300001577 (the "Notes"), issued under the Terms and Conditions of Secured Note Issue of PRFoods dated 14 January 2020 (which have been amended on 25 February 2020; the "Terms").

The Meeting took place on 24.05.2021 and altogether 6 Noteholders participated in the Meeting, who hold in aggregate Notes with the Nominal Value of EUR 5,505,300 i.e. approximately 55% of the aggregate Nominal Value of all Notes which carry voting rights. Therefore, the Meeting was competent to pass resolutions.

At the Meeting, the Noteholders adopted a decision to waive the requirement for PRFoods to fulfil the financial covenants provided in Section 5.2 of the Terms for PRFoods' 2020/2021 financial year (i.e. the financial year 01.07.2020 - 30.06.2021) and decided that any non-fulfilment of the financial covenants provided in Section 5.2 of the Terms for PRFoods' 2020/2021 financial year shall not constitute a breach of the Terms by PRFdoos or an Extraordinary Early Redemption Event (as defined in the Terms). Further, the Noteholders acknowledged the effects of the planned issue by PRFoods od subordinated convertible notes and tap-issue of the Notes, and of the bridge financing granted by shareholder Amber Trust II S.C.A to the financial covenants provided in Section 5.2 of the Terms. Noteholders who hold in aggregate Notes with the Nominal Value of EUR 5,505,300 i.e. 100% of the aggregate Nominal Value of all Notes held by Noteholders present at the Meeting, voted in favour of the said decision.

In accordance with Clause 5.5 of the Terms, the above decisions described above are binding on all Noteholders.

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Indrek Kasela AS PRFoods Member of the Management Board +372 452 1470 investor@prfoods.ee (https://www.globenewswire.com/Tracker?data=iePrYIma9n-ZCs5B52CdPqO_qXJqYUQaig801uu1LyznDZLmDk-zrCeDI7xVM9_PmsFbXluFc6MEbCacNTHz24oXZ_NWM5YfUeC6UuNSw9ZH0Qsa7VLsF8BAoj4ktPb6h13wImrrikZyypDOwbXge7AG 6W1_g5nWATUoUAvKY0mzQhePvKi45UHTwAa3HcCSA6LviEMHyEG9m8zN_qVpzQKDLaTZJyG4BHqZQHHU E60k8oZB118Zm103hDqsVVrZSD9YLg1w4tosQ5soZ3wLLfuxXpVwiNSXdZ2WtRfbosnsxUtZrKA-IO2rFgXAMjcDJVdgiZVfgsBOCTuksvu5qjRME8w2uNhG0dUDPu6NjbV89B6dn0HWSfs5ZFMPJSCc_fWh xMd1VBPjyoBxD6I -Px05ba8yiC7t0cVtz4_FvID6SqipIHGwY338t5cThkxCmibd6g1tHc8gSLcQzkiuoCCQAsovyvGZbtPi gHFj8VtUPapUW4ihHdFdgo-S6bFBuscIFTyvyB80_mJWosHAvrHvPq5XjVF-

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(https://www.qlobenewswire.com/Tracker?data=hKErBb0bpJE90HzQxk6e79661LmMfJpkHM--I5zYVZIb5UrRn-MW5jMw3YWYZkmzH4j9iaMrCC_47lQp3zHZPc3dnSW4qPutpchq-wrs2DI61SCEeMx3 t9ztmyTMA-RiOB7Oceh37X-VY_1Vyy8hufI6889-2tPLhq9FomiQQrnJ33HTwODUY-z-VFbrDaf9cM3Q V10R2IatJrQtRbNqzA2GeLYzUugrccRGglBDLmxSSe40Jb7_TEadHJjzZJTk9FfuBzt5ma0THUxRumlD _VlpZeSKH4X0sQSiZa13EW1CrgFRVYyWNacn8mu-KKW33kTFCmETgqSKgge70Mj_t2La5fmK3E-Va2cx 28-Y2GEj7bia1Ejcv5uo1iYFj1t5gfx3TG1_gdoC_PdlPE_Hqip10ASnGRolCEhW2WT-bHwUffrwepIrF wVi2gOUKlJfb_I50mGmOgMI9YtYQBrN-Xz_YXzUqEsA4deNnieUDqClDszHH-49ynNn_3jHvMSYYk63H Ky-6k1u2xNyMeag_sCBcL8KCdpHnuZWiGCvbFx2AYgAr95u0jedvRQg9nsJo5VdH0K2-CYFiJSKAQr9T ZxrkEZsuufVwnGbWdyGAi10joIFQJNa7H95dmzxEfWw-sHF7KtNlxwy38eD_jCun1mW7NQS0u52ELIvn OHhi_N8= )

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