Kiri

To: Citibank Europe plc 1 North Wall Quay Dublin 1 Ireland (in its capacity as common service provider and registrar, the "Common Service Provider" and "Registrar", as applicable) 13 June 2023 The Republic of Estonia EUR 500,000,000 4.000 per cent. Notes due 2032 (the "New Notes") (To be consolidated and form a single series with the EUR 1,000,000,000 4.000 per cent. Notes due 2032 issued on 12 October 2022) Reference is made to the Offering Circular dated 9 June 2023 relating to the New Notes (the "Offering Circular"), a copy of which is attached hereto. The Republic of Estonia, represented by its Minister of Finance, hereby authorises and instructs Citibank Europe plc: 1. in its capacity as Registrar for the New Notes (or any duly authorised person on its behalf) to authenticate the Global Registered Note Certificate relating to the issue of the New Notes and to deliver it to Citibank Europe plc as Common Service Provider; and 2. in its capacity as the Common Service Provider to: a. deliver the Global Registered Note Certificate, together with the effectuation authorisation letter, to the common safekeeper for Clearstream Banking S.A. and Euroclear Bank SA/NV (in such capacity, the "Common Safekeeper") with an instruction for the Common Safekeeper to effectuate the Global Registered Note Certificate and hold it in safe custody; and b. to request Euroclear Bank SA/NV (following effectuation) to credit the New Notes free of payment to the commissionaire account of Goldman Sachs Bank Europe SE (the "Settlement Bank"), account number 24093, with Euroclear Bank SA/NV (the "Commissionaire Account"). Suur-Ameerika 1 / 10122 Tallinn / Estonia / +372 611 3558 / [email protected] www.rahandusministeerium.ee / Reg. code: 70000272 Sven Kirsipuu, Undersecretary for Fiscal Affairs