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's activity report 2022

Partnership Favorte was established in 1993, the main field of activity is real estate development.

Partnership Favorte's consolidated sales revenue in 2022 was 18,028 thousand euros and profit 6,145 thousand euros. The consolidated equity at the end of the year was 42,598 thousand euros.

In 2022, Partnership Favorte was engaged in renting out commercial premises and existing real estate development projects.

As of the end of 2022, Favorte LLC and its subsidiaries had 13,200 m2 of commercial space for rent.

The main product groups of development projects were apartments, terraced and semi-detached houses, private house plots and commercial buildings.

The following developments were completed: 1. Käokella VI stage in Järveküla - 16 semi-detached and 13 terraced houses.

2. Kivimurru 7a, Tallinn apartment building, 12 apartments.

3. Tiirisule residential plot development II stage in Alliku village - 48 plots.

4. Vana-Narva mnt 3, Maardu commercial building - total area 9458 m2.

The company's activities do not have significant environmental and social impacts, as construction takes place in accordance with general plans approved by local governments. No significant expenditures were made in connection with research activities. In our opinion, the company's economic activity is not seasonal or cyclical. Due to the high need for investment and the loan burden, the company's dividend policy is not to pay dividends.

In 2022, investments were made in land purchase of 1.0 million euros. 19000 m2 of commercial and production land was purchased. Stock-office areas were built 9500 m2, construction price 6.3 million euros.

The following are the larger projects that were worked on in 2022 and will be completed in 2023: 1. Veskilise 7 and 9, Tallinn apartment buildings, 62 apartments 2. Kadaka 42b, Tallinn commercial building in Mustamäe - total area 14,376 m2 3. Mäeküla 7, Tallinn commercial building in Tähetorni Technopark - total area 4587 m2 4. Sõnajala 1 apartment building in Järveküla - 64 apartments and 4 commercial spaces In 2023, it is planned to start construction of the following development projects: 1. Mäeküla 9, Tallinn commercial building in Tähetorni Technopark - total area 4840 m2 2. Rehelepa põik 2/4 and Rehelepa 10/12 apartment buildings, Rehelepa Residential Area I stage, 72 apartments.

As of the end of 2022, LLC Favorte has subsidiaries: 1. LLC Lubja Residentsid, no active business activity took place in 2022. In 2023, we filed for bankruptcy as there are no funds to pay the expert fee imposed by the court.

2. LLC Roopa Arendus, which is developing apartment buildings on the properties of Veskilise 7 and 9, Tallinn; 3. LLC Künnipõllu Arendus, which is building terraced houses on the properties of Kraaviääre in Järveküla and Metsakasti village

Tuulehalda road properties; 4. LLC F&A Real Estate, which is developing Rehelepa apartment buildings and Paldiski mnt 223, Tallinn property; 5. LLC P112, which is renting out a commercial building at Vana-Narva mnt 3 in Maardu, Kärmu 1, Jõesaare 3, Tallinn and Saue tee 13; Laagri and Taevavärava 6c, Lehmja properties for commercial building development; 6. LLC Studio 50 Invest, which is developing apartment buildings at Sõnajala tee 1, Järveküla; 7. Mäeküla Laod LLC, which is developing commercial buildings on the properties of Mäeküla 7 and 9 and Härgmäe 25, Tallinn; 8. Mahtra 46 Ärimaja LLC, which is renting out a commercial building at Mahtra 50a, Tallinn and

developing a commercial building at Mahtra 46, Tallinn; 9. Favorte Telliskivi LLC, which is renting out a commercial building at Telliskivi 24, Tallinn; 10. Favorte Koplipere LLC, which is developing real estate in Rae parish.

3 11. Reesivälja Invest LLC, which is building apartment buildings on the properties of Astangu 4,4a.