Infortar AS (TLSE:INF1T) intended to make a voluntary takeover offer to acquire remaining 53.24% stake in AS Tallink Grupp (TLSE:TAL1T) for ?220 million on June 17, 2024. The Offeror makes the Offer with the price of ?0.55 per one Tallink share. Upon completion, Infortar AS will own 100% stake in AS Tallink Grupp.

The Offer takes place as a voluntary takeover offer and the Offeror is not obliged to conduct the Offer under § 166 of the Estonian Securities Market Act. In accordance, the Offeror shall submit the Prospectus and the Offer notice to the Estonian Financial Supervision and Resolution Authority (? EFSA ?) for approval.

The Prospectus and Offer notice shall be published at a date determined by EFSA after their approval, however, the Offeror intends to start the Offer in the beginning of July 2024 and the Offer is intended to last for 35 days. The Offer shall be made in accordance with the laws of the Republic of Estonia and will not be subject to any review or approval by any foreign regulatory authority. As of July 2, 2024, the offer has been approved by FSA on July 1, 2024.

The offer has commenced on July 2, 2024, and will close on August 5, 2024. As on July 15, 2024, As of July 15, 2024, Supervisory Board of AS Tallink Grupp consisting of Enn Pant (chairman), Kalev Järvelill, Ain Hanschmidt, Eve Pant, Toivo Ninnas, Colin Douglas Clark and Raino Paron gave their opinion in accordance with § 171 (2) of the Securities Market Act (?SMA?) and § 21 of Regulation No. 71 of the Minister of Finance dated 28 May 2002 ?Rules for Takeover Offers?

(?Rules?) with regard to the voluntary takeover offer made by AS Infortar. The members of the Supervisory Board of Tallink and persons who prepared this opinion are Enn Pant (chairman), Kalev Järvelill, Ain Hanschmidt, Eve Pant, Toivo Ninnas, Colin Douglas Clark and Raino Paron; Contracts of the members of the Supervisory Board and management board of Tallink or other relations with the Offeror, To the knowledge of the Supervisory Board, members of the management board of Tallink (?Management Board?) and members of the Supervisory Board members have not entered into contracts with the Offeror, The Supervisory Board members are elected by the shareholders of Tallink pursuant to the articles of association of Tallink, The Management Board members are elected by the Supervisory Board pursuant to the articles of association of Tallink, To the knowledge of the Supervisory Board, no member of the Supervisory Board or Management Board has the right to any compensation that would depend on the Offering or the results thereof and that could result in the conflict of interest of the members of the Management Board or Supervisory Board in relation to the Offering, All the above members of the Supervisory Board are of the opinion that the Offering does not have an adverse effect on Tallink, the interests of Tallink or its employment relationships with employees, To the knowledge of the Supervisory Board, no member of the Supervisory Board or Management Board intends to accept the Offer.