Information regarding upcoming Extraordinary General Meeting of EnergyO Solutions Russia AB (publ)

The following three important questions will be on the agenda of an
Extraordinary General Meeting (“EGM”) of EnergyO Solutions Russia AB (publ)
(“EOS Russia”) that the Company’s Board of Directors has resolved to convene on
6 February 2013:

  · The launch of a new synthetic share buyback program
  · The cancellation of the shares bought back under the existing program
  · The election of a smaller (five-person) Board in line with a proposal by
Noonday Asset Management
At the EGM in August 2012, the Company adopted a Resolution on synthetic
buybacks of its own shares whereby the Board of Directors was authorized, on one
or several occasions prior to the next Annual General Meeting, to resolve on
synthetic buybacks of the Company’s own shares up to a maximum of 29.9 per cent
of all issued and outstanding shares in EOS Russia. At present, 19.77 per cent
of the Company’s shares have been repurchased by SEB Enskilda under the
synthetic buyback program. The buyback program will continue until January 18,
2013 and the exact number of shares to be cancelled will be the number of
repurchased shares on that date. In accordance with the Resolution adopted at
the EGM in August 2012, the Board of Directors now wishes to cancel the shares
repurchased by SEB Enskilda, which requires a resolution by a general meeting of
shareholders.

The EGM to be held on 6 February 2013 will therefore vote on a Resolution to
cancel the shares repurchased by SEB Enskilda under the synthetic buyback
program and to make certain amendments to the Articles of Association required
to enable the cancellation of shares repurchased under the synthetic buyback
program.

Further, following a request from one of the company’s major shareholders,
Noonday Asset Management, the EGM should also resolve on the election of a new
Board of Directors and a new mandate for synthetic buybacks of the Company’s own
shares up to a maximum of 29.9 per cent of all shares in EOS Russia.

As regards the Board of Directors, the proposal from Noonday Asset Management
implies that the newly elected Board would consist of five (5) members and that
Seppo Remes, Pontus Lesse and Christopher Granville are re-elected members of
the Board of Directors and that Peregrine Moncreiffe and Mats Wandrell are
elected new members of the Board of Directors. The proposal also envisages
changes in the remuneration of members of Board of Directors in the light of the
reduction in the size of the Company as a result of share buybacks.

As regards the proposed new share buyback mandate, the Board would have the
right to act on this new mandate if it considered such buybacks to be in the
interests of shareholders, and taking into account the liquidity of underlying
shares, the scope for funding such buybacks, developments in the fundamental
investment case including prospects for MRSK privatizations, the level of share
discount to NAV and other relevant issues.

“The buyback program is being implemented successfully, and the discount of the
Company’s share price to NAV has fallen significantly since the program was
first announced on 20 July 2012”, noted Seppo Remes, the Chairman of the Board,
adding that “EOS Russia was able to pre-finance the buyback by selling its
underlying non-core assets either at a premium to quoted market prices or no
lower than market prices. We will continue the buyback program and will ask the
EGM to approve a flexible new share buyback mandate authorizing the Board to
decide on further concrete buybacks based on, among other things, the prospect
of the Company’s assets in the low voltage distribution sector being revalued as
a result of prospective privatizations, the liquidity of underlying assets and
the extent to which the Company’s shares trade at a discount to NAV.”

The full notice to the EGM will be published in accordance with the Swedish
Companies Act, i.e. no more than six weeks prior to the EGM and not later than
four weeks prior to the EGM.

Stockholm, 14 December 2012

EnergyO Solutions Russia AB (publ)
For further information, please contact: ir@eos-russia.com
EOS Russia is an investment company headquartered in Stockholm. The overall
objective of the company is to offer attractive returns via investments in the
Russian electricity industry. EOS Russia's shares have been listed on First
North, a marketplace operated by the Stockholm Stock Exchange, since 25 June
2007. Remium Nordic AB is the Certified Adviser.