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Subscription of 21,444,960 new shares by Fitzroy Investments Limited based on warrants

Tecnotree Corporation ("Tecnotree") informed by stock exchange release published on 24 September 2018 that Fitzroy Investments Limited ("Fitzroy") had subscribed a number of 72,444,960 freely assignable and transferable warrants (the "Warrants") entitling, but not obligating, their holder to subscribe for 72,444,960 new shares in Tecnotree with the total subscription price of 2.91 million euros at a price per share of about 0.04 euros by 24 September 2019.

Fitzroy transferred subsequently a number of 51,000,000 of the above warrants to Luminos Sun Holding Limited ("Luminos"). Tecnotree informed by stock exchange release published on 25 February 2018 that Luminos had exercised all of its 51,000,000 warrants.

Fitzroy has now exercised all of the 21,444,960 warrants still held by it pursuant to the warrants terms for a total subscription price of 861,410 euros. As a result of the warrant exercise, the total number of shares in Tecnotree will increase by 21,444,960 new shares ("New Shares") to 247,628,428 shares.

As a result of the warrant exercise now made by Fitzroy, Tecnotree has received in the aggregate EUR 5,000,000 based on the subscription agreement signed with Fitzroy on 18 September 2018 (including the warrant exercises made by Luminos based on the warrants acquired by it from Fitzroy).

The New Shares are of the same class as the existing shares in Tecnotree. The New Shares carry a right to dividend and other shareholder rights as from their registration with the Finnish Trade Register, which is estimated to take place by 12 April 2019.

The New Shares shall be issued as book-entries and recorded in the book-entry system maintained by Euroclear Finland Ltd after the registration of the New Shares with the Finnish Trade Register. The New Shares are estimated to be entered into the subscriber's book-entry account by 12 April 2019 first as interim shares representing the New Shares. The interim shares shall not be applied to be admitted to trading on NASDAQ Helsinki Ltd. The interim shares will be combined with Tecnotree's present class of shares (ISIN code FI0009010227, trading symbol TEM1V) and listed for trading on the main list of NASDAQ Helsinki Ltd together with the other shares of Tecnotree's present class of shares once Tecnotree has published a prospectus which is expected to take place by 30 April 2019.

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Padma Ravichander, CEO, tel. +97 156 414 1420