Pöördumine

REPuBLic OF EsT0NIA MINisTRY OF FINANcE

Council of Europe Development Bank (CEB) Governor Carlo Monticelli 55, Av Kleber F-75116 Paris

Ourref. 06.03.2024 No 11-4.11/’1f4(—/ France

Capital increase subscription

Dear Governor,

Foiiowing Resolution 463 (2022), dated 2 December 2022, by the CEB’ Goveming Board to increase the Bank’s subscribed capital by a maximum of EUR 4,25 billion, Estonia hereby subscribes to participating certificates for an amount of EUR 9 872 000 corresponding to an amount of capitai to be paid in ofEUR 2 787 853.

1 also confirm that ali the conditions for this subscription have been met and 1 note that the subscription of these new certificates wili take place in accordance with the provisions set out in the Governing Board Resolution.

Estonia intends to pay the paid-in capitai ofEUR 2 787 853 as follows: 2024: EUR 1 393 926,50; 2025: EUR 696 963,25; 2026: EUR 696 963,25.

Yours sincerely,

Mart Vorklaev Minister of Finance

CC: Mr Rasmus Lumi, Permanent Representative of Estonia to the Council of Europe Ms Christiane Schimeck, Head of the Secretariat of the Partial Agreement on the CEB Mr Rafael Ruisanchez, Director of the Risk and Control Directorate

Riina Laigo +372 611 3500, riina.laigofin.ee

Suur-Ameerika 1 / 10122 Tallinn / Estonia / +372 611 3558 /[email protected] www.rahandusministeerium.ee / Reg. code: 70000272