Further clarification needed on Nera

Hey Marek,

Thank you for the clarification. However, investors were previously informed that the restructuring agreements had been finalised and that the process was expected to be completed by the end of September. On 7 October, we were again told that only the final details remained.

Could you please clarify the following points?

1. What specific tax question is the outstanding opinion intended to address, and why has it not yet been resolved?

2. Who is responsible for obtaining the opinion, and when is it expected to be delivered?

3. If the agreements are already finalised, could the tax opinion require changes to their terms or structure?

4. Once the opinion is received, are any further approvals or conditions required before all agreements can be signed and the restructuring implemented?

5. When will investors receive the promised comprehensive update, including the proposed repayment schedule, treatment of accrued interest, revised maturities and implications for investor recoveries?

We understand that complex restructurings take time. However, given the prolonged suspension of payments and the missed timelines, investors need specific information and realistic deadlines rather than another open-ended commitment.

Please address these questions directly, even if some details cannot yet be disclosed.