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's activity report 2022

Goodyear Baltic OÜ's field of activity is the import of tires and sales to wholesalers and retailers in three Baltic countries. The brands sold are

Goodyear, Dunlop, Debica, Sava, and Fulda. The company is part of the Goodyear Dunlop Nordic structure, supported by the group's SSC (Shared Service

Center) located in Stockholm.

The company also has registered branches in Latvia and Lithuania.

In 2022, the company made a profit of 1,127,352 euros, in 2021 the profit was 612,203 euros, increasing by 515,149 euros or 84% compared to 2021. The growth is mainly due to reduced operating costs, which have been necessary to offset the negative impact of rising goods prices. Sales in 2022 increased by 90% due to a well-planned strategy, sales volume increased (growth of 110,000 units versus 2021) mainly in the truck business. The cost of goods sold increased by 102% mainly due to inflation, energy, transportation, and raw material costs. For 2023, the management of Goodyear Baltic OÜ forecasts sales growth to balance the continued pressure on the cost of goods sold.

No dividends were paid in the reporting year. The company assesses its liquidity as satisfactory to meet all existing obligations. Most creditors are intra-group companies.

At the end of the reporting year, the company employs 12 people (2021: 14) in total in Estonia, Latvia, and Lithuania. The total amount of wages paid to employees during the reporting year was 620,534 euros with social tax (2021: 744,742). Board members have been accounted for a salary and other benefits in the amount of 10,650 euros in 2022 (2021: 10,650).

Environment/Sustainability

Goodyear Baltic OÜ is a subsidiary of The Goodyear Tire & Rubber Company operating in Estonia. The Goodyear Tire & Rubber Company ("Group") publishes an annual corporate social responsibility report covering the entire global group's operations.

One of the Group's main sustainability principles is to minimize possible negative consequences associated with business activities and to take advantage of sustainable business opportunities. This is mainly achieved through innovations in the Group's product manufacturing processes in relation to material use, occupational health and safety, new product development, and additional requirements for raw material suppliers.

Goodyear Baltic OÜ is a sales company and almost all purchases are made from other Group subsidiaries. Goodyear Baltic OÜ has no influence over decisions related to raw material procurement or production. The tires sold by Goodyear Baltic OÜ in 2022 were predominantly produced

in Group factories located in Poland and Germany.

Goodyear Baltic OÜ's sustainability management is based on the Group's global policy and guidelines. The Group's main sustainability rules are outlined in the Code of Conduct "Business Conduct Manual". The Code of Conduct addresses, among other things, environmental issues, business ethics, and working conditions. The Business Conduct Manual also describes specific rules that exist in certain areas. One of these rules covers environmental, health, and safety issues ("Environmental, Health & Safety Policy") and sets out requirements to reduce environmental impacts, increase sustainability in materials, processes, and products, and reduce waste and greenhouse gas emissions.

In 2021, Goodyear initiated a climate strategy project in the EMEA region, aiming to understand the most significant impacts of Goodyear's operations on the environment, meet investor expectations, and work towards long-term success. The project highlights that companies (including Goodyear) have an obligation to reduce emissions and implement transformative changes. The final report of the project will be presented in 2023.

At the moment, there is no information about Goodyear Baltic OÜ's emissions or environmental impacts as a separate company.

The tires sold by Goodyear Baltic OÜ contain materials that can harm the environment if used tires are not responsibly recycled. Goodyear Baltic OÜ has a legal producer responsibility for those tires that the company sells. The purpose of the legal producer responsibility is to ensure that fully amortized tires are responsibly disposed of. Goodyear Baltic OÜ fulfills its producer responsibility obligation by using waste management companies to properly dispose of used tires.

Risks 1) Price risk

The company is a sales company and does not purchase raw materials. All raw material purchases and production are done in other group subsidiaries, which sell the products to Goodyear Baltic OÜ for resale in the local market. The Goodyear Group has a risk that it may not be possible to pass on the increase in raw material prices to the end customer. The company does not consider this risk material as it would affect competition equally.

2) Value assessment risk

The value assessment risk is mainly related to the assessment of the value of third-party claims. The company assesses at the end of each quarter whether the claims reflected in the balance sheet are likely to be collected. If the probability of collecting the claims has decreased, a provision is made. The company's rule