XXI regular session of the Meeting of Shareholders

Pursuant to Art. 31 and 41 paragraph 1 of the Articles of Association of Hipotekarna banka AD Podgorica, pursuant to Article 36 (6) of the Law on Companies ("Official Gazette of the Republic of Montenegro" No. 06/02, "Official Gazette of Montenegro" No. 17/07, 80/08, 40/10, 73/10, 36/11 and 40/11) and the Decision of the Board of Directors on convening the XXI regular session of the Meeting of Shareholders of Hipotekarna banka AD Podgorica No. 02-7466/3-1 of 20 May 2019, the following is herein stated:

NOTIFICATION

on convening the XXI regular session of the Meeting of Shareholders of Hipotekarna banka AD Podgorica

I

The Shareholders of Hipotekarna banka AD Podgorica ("the Bank") are hereby informed that the XXI regular session of the Meeting of Shareholders of the Bank will be held on 25 June 2019 in the premises of the Bank, at the following address: Josipa Broza Tita 67, Podgorica at 10:00h.

II

The Board of Directors of the Bank proposes the following agenda:

Opening of the XXI regular session of the Meeting of Shareholders of Hipotekarna banka AD Podgorica and the selection of working bodies;

Adoption of the Minutes from the XX regular session of the Meeting of Shareholders of Hipotekarna banka AD Podgorica held on 29 June 2018;

Review of the annual report on operations of Hipotekarna banka AD Podgorica for the year 2018 along with the report of the external auditor; Proposal of the Decision on distribution of profit for the year 2018;

III

Material for the XXI regular session of the Meeting of Shareholders of Hipotekarna banka AD Podgorica ("the Bank") along with the proposals of decisions will be at the disposal of shareholders of the Bank 20 (twenty) days before holding the Meeting of Shareholders at the Bank's registered office in Podgorica, at the following address: Josipa Broza Tita 67, during every working day from 8:00h to 16:00h.

The notification on convening the XXI regular session of the Meeting of Shareholders of the Bank will be published also on the Bank's website: www.hb.co.me.

The quorum for the Meeting of Shareholders is composed of shareholders bearing at least one half (15,653 shares) of the total number of voting shares (31,305 shares), who are either present or represented through the proxy or who have poll voted.

Decisions referred to items 1, 2, 3 and 4 of the proposed agenda are adopted by a majority of votes of the present or represented shareholders or the shareholders who poll voted. All shares of the Bank are ordinary shares and each share gives the right to one vote (total of 31,305 shares).

For the purpose of ensuring an adequate organization of the session, the Shareholders and their proxies who wish to take part in the work of the XXI regular session of the Meeting of Shareholders of the Bank are kindly asked to register in the premises of the Bank no later than 2 (two) days before the session of the Meeting of Shareholders, by submitting for review the necessary documents (personal documents, certified power of attorneys).

For any additional information, please contact the Bank's service in charge via telephone at the following number: +382 (0) 77 700 246.