Decisions of the annual general meeting of shareholders

Nordecon AS (registry code 10099962, address Toompuiestee 35, 10149 Tallinn) annual general meeting of shareholders was held on 21 May 2025 at 10.00 a.m. in the conference centre of Radisson Blu Hotel Olümpia, room Sigma (Liivalaia 33, 10118 Tallinn).

The shareholders of Nordecon AS made the following decisions according to the proposed agenda:

Agenda item No. 1. Approval of the Company’s annual report for 2024 and proposal for the allocation of profit

RESOLUTION No. 1

To approve the Company’s consolidated annual report for the 2024 financial year as submitted by the management board.

RESOLUTION No. 2 

To distribute the profit of the Company as follows: the net profit attributable to the shareholders of the Company for the 2024 financial year amounts to 3,827 thousand euros. The retained profit of previous periods amounts to 919 thousand euros. To leave the retained profit of previous periods undistributed and not pay dividends to the shareholders. To not make any appropriations to the legal reserve or other reserves provided for by the law or the articles of association.   

Agenda item No. 2. Election of auditor for the financial year 2025 and deciding on the remuneration of the auditor

RESOLUTION No. 3

To elect the current audit firm of the group, KPMG Baltics OÜ, as the auditor of the Company for the financial year 2025 and to pay for the services according to the agreement.

Agenda item No. 3. Extension of the authorisations of the supervisory board members and remuneration of the supervisory board members

RESOLUTION No. 4

4.1. In connection with the expiration of the term of office of the supervisory board members Toomas Luman, Andre Luman, Sandor Liive and Vello Kahro on 20 May 2025, to extend the authorisations of the current supervisory board members Toomas Luman, Andre Luman, Sandor Liive and Vello Kahro for a new statutory term until 20 May 2030.

4.2. To determine that as from 1 June 2025 the amount of the remuneration payable to the chairman of the supervisory board is 13,500 euros per month, to the vice-chairman of the supervisory board 4,500 euros per month and to the other supervisory board members 1,500 euros per month.

At the annual general meeting of shareholders 17,984,504 ordinary shares entitled to vote were represented, i.e. 55.55% of total ordinary shares outstanding.

Nordecon () is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated revenue of the Group in 2024 was 224 million euros. Currently Nordecon Group employs 411 people. Since 18 May 2006 the company's shares have been quoted in the main list of the Nasdaq Tallinn Stock Exchange.

Andri Hõbemägi

Nordecon AS

Head of Investor Relations

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