NOTICE OF DIVIDEND PAYMENT TO SHAREHOLDERS OF CRNOGORSKI ELEKTROPRENOSNI SISTEM A.D. PODGORICA

Notice to shareholders The Montenegrin Electricity Transmission System AD Podgorica will pay a dividend based on the profit achieved in 2020, in accordance with the Decision on Dividend Payment passed at the Extraordinary General Meeting of Shareholders held on 26 October 2021.

The total dividend payable to shareholders, after deduction of corporation tax, is €6,803,022.41.

The net dividend per share is €0.046716173.

IThe dividend payment will begin on 17 December 2021.

The dividend will be paid to the shareholders of Crnogorski elektroprenosni sistem AD, who held shares on 26 October 2021, i.e. on the date the decision on dividend distribution was made.

The dividend is paid through Crnogorska Komercijalna Banka. AD Podgorica banks and will be available at all branches of this bank.

Shareholders who are unable to collect their dividend at the branches Montenegrin commercial AD Podgorica banksShareholders may request that their dividend be paid into a bank account in the country or abroad. In that case, individual shareholders (residents and non-residents) must provide the bank with the following documents, which must be notarised:

's missing Request for dividend payment with clear and accurate payment instructions

's missing Copy of identity card

Shareholders (individual residents) can send these documents to the following address:

Montenegrin Commercial Bank AD Podgorica

17th Revolution Boulevard

Department of Payment Transfers

Contact person: Darka Radović, tel: + 382 20 415 826

Jelena Vujisić tel: + 382 20 415 825

Individual shareholders (non-residents) can send these documents to the following address:

Montenegrin Commercial Bank AD Podgorica

17 Revolution Boulevard, Podgorica

Department of Payment Transfers

Contact person: Darka Radović, tel: + 382 20 415 826

Jelena Vujisić, tel: + 382 20 415 825

Based on the submitted request and instructions, the bank will make the dividend payment to shareholders who are private individuals into their accounts, either in the country or abroad.

For any further information, shareholders may contact the Montenegrin Transmission System Operator AD:

Contact for legal entities:

E-mail: pravna.lica.dividende@cges.me

Tel: + 382 20 407 682

Contact for individuals:

E-mail: fizicka.lica.dividende@cges.me

Tel: + 382 20 414 710

Respectfully,

Executive Director

Ivan Asanović, M.Eng.