12th Extraordinary General Meeting of Shareholders of CGES AD

4 April 2023
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On the basis of Articles 135, 136, 149, 151 and 161 of the Law on Commercial Companies ('Official Gazette of Montenegro' no. 65/20) and Article 45, paragraph 1, point 2 of the Statute of the Montenegrin Transmission System Company AD, the Board of Directors, to convene

12th Extraordinary General Meeting of Shareholders

Montenegrin Electric Transmission System Ltd

The shareholders' meeting will be held in Podgorica. 05.05.2023in the year at the hotel "Hilton Podgorica, Boulevard St. Peter of Cetinje No. 2, starting at 10.00 lesson.

For XII for the extraordinary General Meeting of Shareholders, the following was determined

Day and Night Red:

1) Adoption of the Contract Note with Annex 1 – Amendment of the Loan Agreement between the Montenegrin Transmission System Operator AD and the European Bank for Reconstruction and Development (EBRD)

Decision under item 1. is passed onto the agenda by a majority vote of 77% total number all issued share of the Society.

Material for XII The documents for the extraordinary General Meeting of Shareholders will be made available to shareholders at the CGE's business premises, Podgorica, 18 St. Peter of Cetina Boulevard (office no. 301).

Insight into the material for Twelve The extraordinary General Meeting of Shareholders may be held on any working day between 09:00 and 15:00, starting from 15 April 2023.

Shareholders who are unable to attend the General Assembly may vote in advance by post, by sending their ballot papers to the following address: Crnogorski elektrotransmisioni sistem AD, Bulevar Svetog Petra Cetinjskog no. 18 – Podgorica (for the Shareholders' Meeting), no later than the start of the Shareholders' Meeting. The voting ballot must be notarised in accordance with the law.

Shareholders with their registered office/residence outside the territory of Montenegro may participate electronically in the work of the General Assembly of Shareholders and vote on the item on the agenda. in the queue before or during the session.

Shareholders who intend to participate in the General Meeting of Shareholders electronically shall notify the Company of this from their official email address to the following email address: Katarina Blagojevic@cges.me, no later than 25.04.2023. A copy of the power of attorney and personal documents must be attached to the email for the identification of the shareholder/attorney.

The original power of attorney must be submitted no later than 03.05.2023 to the address:

Montenegro Transmission System AD, 18 St. Peter of Cetina Boulevard, Podgorica (for the General Meeting of Shareholders – to the Company Secretary).

Registration of present shareholders and proxies will take place from 09:00 to 10:00. lesson per day and у placeу holding an extraordinary General Meeting of Shareholders.

Shareholders will be identified at the General Assembly by means of personal identity documents, and proxies by means of a power of attorney and personal identity documents. The power of attorney must be notarised in accordance with the law.

Notice of Convocation XII The documents for the extraordinary General Meeting of Shareholders, proxy forms and ballot papers, as well as instructions on how to vote electronically, will be available on the Company's website: www.cges.me.

Chairman of the Board,

Aleksandar Mijušković, MEng, Electrical Engineering, self-employed

XII vanredna SA – glasački listić.pdf

XII vanredna SA – punomoćje.pdf

Odluka o usvajanju Pisma ugovora sa prilogom 1-potpisano.pdf