AS “Storent Investments”, registration number: 40103834303 (hereinafter - the Issuer), in accordance with Clause 20 of the Terms and Conditions of Notes dated 5 March 2020 governing the Notes issued by the Issuer on 19 March 2020 (ISIN: LV0000802411) (hereinafter - the Terms and Conditions) instigates a Written Procedure to obtain the Noteholders' consent on amendments to the Terms and Conditions. In accordance with the proposed amendments to the Terms and Conditions, the Issuer proposes that it is obliged to comply with the Net Debt/EBITDA financial covenant as of 31 December 2021.

   The rapid spread of Covid-19 has had a significant impact on the main markets where the Issuer operates, as well as on the Issuer's ability to refinance its liabilities.

   Due to the rapid spread of Covid-19 a state of emergency has been introduced in all EU countries, creating significant business constraints. The Issuer continues to operate in the usual manner by taking precautionary measures. In March 2020, the Issuer has launched a new website, as well as created technological solutions that will enable the Issuer's clients to be served in a virtual environment. Taking into account uncertainty regarding the further impact of Covid-19 on the Issuer's employees, clients and the economy as a whole, the Issuer's management has commenced negotiations with all creditors on postponing payment of principal. The maturity of the loan of the Issuer's largest shareholder has been extended by 12 months and interest payment shall be capitalized or paid in cash at the choice of the Issuer. Negotiations with the largest leasing companies the Issuer intends to complete within the upcoming weeks. The Issuer will continue to pay interest in full on all financial liabilities.

   In accordance with the proposed amendments to the Terms and Conditions, the Issuer proposes that it is obliged to comply with the Net Debt/EBITDA financial covenant as of 31 December 2021, which will allow the Issuer to reorganize its activities in case of a possible decrease in turnover and to continue to fulfil its obligations.

   In the light of the above considerations, the Issuer invites the Noteholders to support the proposed amendments to the Terms and Conditions.

   If as a result of the voting of the Noteholders the amendments proposed to the Terms and Conditions are approved, the Issuer agrees within 10 (ten) Business Days after publication of the Issuer’s notice on entry into force of the amendments to the Terms and Conditions to pay each Noteholder, who in accordance with a list prepared by Nasdaq CSD SE is a Noteholder on 2 April 2020 and who has voted “for” the amendments proposed to the Terms and Conditions, an amendment fee in the amount of 0.25 % (zero point twenty-five per cent) from the principal amount of the Notes held by the respective Noteholder.

   Announcement on instigation of Written Procedure for receipt of the Noteholders’ consent, which contains a detailed information on participation in the voting and timing of the voting, proposed amendments to the Terms and Conditions, the voting form and the form of proxy are attached hereto.

   The Issuer has authorized Redgate Capital to manage the voting process, incl. conducting necessary negotiations with the Noteholders. The Issuer invites all Noteholders to be responsive, to thoroughly familiarize themselves with the proposed amendments and to submit their votes within the set time limit.