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's activity report 2022

Group

The AS Salome Auto group included the parent company, 2 subsidiaries and an associated company.

1. AS Kuressaare Autoteenindus, participation 100%. The main activities of AS Kuressaare Autoteenindus are the sale of cars, car maintenance and repair, sale of car accessories and spare parts, car rental. Sales revenue in 2022 was 2.59 million euros, profit 166.0 thousand euros.

(In 2021, respectively 2.17 million euros, profit 74.6 thousand euros.) 2. AS Kuressaare Autoteenindus owns a 50% stake in OÜ Autovärv. The main activity of Autovärv OÜ is the maintenance and repair of motor vehicles. Sales revenue in 2022 was 770.8 thousand euros, profit 92.2 thousand euros. (In 2021, respectively 555.5 thousand euros, profit 67.3 thousand euros.)

The management of Salome Auto AS participates in the appointment of the management board of the associated company Autovärv OÜ and therefore clearly has influence

in directing decisions related to the economic activities of Autovärv OÜ. Based on this fact, the board of Salome Auto AS considers it appropriate and necessary to consolidate the financial information of the associated company Autovärv OÜ line by line in the consolidated annual report of Salome Auto AS.

3. The main activity of OÜ Salome Pärnu is the sale of car accessories and spare parts, car maintenance and repair. (AS Salome Auto owns a 75% stake). Sales revenue in 2022 was 2.125 million euros, profit 127.6 thousand euros. (In 2021, respectively 1.824 million euros, profit 86.4 thousand euros.) No changes are foreseen in the consolidation group in 2023.

The consolidated sales revenue of AS Salome Auto and its subsidiaries totaled 19.248 million euros in 2022. (In 2021, 17.528 million euros.)

The business activities of all group members are relatively evenly distributed throughout the calendar year.

Only January and February have a smaller than average turnover, May and November are above average.

Investments In 2022, investments were made in the automaailm.ee website and all car service equipment was updated.

In 2023, the design of the new Automaailma center was started, which will be completed in 2024.

In 2022, the AS Salome Auto group employed an average of 89 employees and the wage cost with taxes was 3.243 million euros. (In 2021, respectively 88 employees and 2.879 million euros.) The remuneration of board members was 120.1 thousand euros. (In 2021, 112.2 thousand euros.) The remuneration of council members was 124.8 thousand euros (In 2021, 114.8 thousand euros.) No severance compensation is provided for board and council members.

Main financial ratios of the group: 2022 2021

Sales revenue growth 9.81% 14.60%

Return on total assets (ROA) 7.53% 6.83%

Return on equity (ROE) 9.58% 9.23%

Solvency ratio 0.71 1.30

Profit growth 29.79% 58.05%

Debt ratio 0.21 0.26

Operating profitability 5.86% 4.88%

Net profitability 5.46% 4.62%

Sales revenue growth = reporting year sales revenue - previous year sales revenue / previous year sales revenue * 100

Return on total assets = reporting year profit / average cost of assets * 100

Return on equity = reporting year profit / average equity * 100

Solvency ratio = Current assets - inventories / Short-term liabilities