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's activity report 2022

The main activity of AS Nordmet Group is the purchase and sale of non-ferrous metals and the rental of its own real estate.

AS Nordmet is registered in Estonia.

Subsidiaries are located in Sweden, Switzerland and outside the European Union countries.

Share capital

No changes occurred in the share capital of AS Nordmet in 2022. The size of the share capital was 13,196,991.71 euros.

Investments In 2022, investments were made in tangible fixed assets 9 thousand euros, in 2021 3,211 thousand euros.

At the end of 2022, a subsidiary Lantana Metal Ticaret A.S was established in Turkey (3 thousand euros) and an associated company Hexagon TS CJSC was acquired in Armenia (acquisition cost 1,444 thousand euros).

Main financial indicators Consolidation group Parent company 2022 2021 2022 2021

Sales revenue (thousand euros) 171,987 330,400 66,140 66,545

Operating profit margin % 5.21% 8.06% 9.55% 8.28%

Net profit/loss (thousand euros) -9,050 18,118 20,683 19,406

Net profitability -5.26% 5.48% 31.27% 29.16%

Short-term obligations coverage ratio times 5.37 2.26 58.39 3.03

ROA -11.32% 15.03% 50.25% 42.85%

Formulas used in the calculation of ratios: (cid:127) Operating profit margin % = operating profit / sales revenue*100 (cid:127) Net profitability = net profit / sales revenue*100 (cid:127) Short-term obligations coverage ratio = current assets / short-term obligations (cid:127) ROA (%) = net profit / total assets*100

Loans At the end of 2022, AS Nordmet Group had total loans of 6,883 thousand euros, of which short-term loans 4,683 thousand euros and long-term 2,200 thousand euros (as of 31.12.2021, total loans were 25,725 thousand euros, of which short-term 25,725 thousand euros and long-term 0 thousand euros).

All loans are secured by the company's assets.

Significant events in 2022 and goals for the next fiscal year

In 2022, the situation in Ukraine affects the economy. Since some of the companies belonging to the Nordmet group were located in Russia, the company has had difficulties in supervising investments there. To reduce the risks arising from the events in Ukraine, all subsidiaries located in Russia were sold at the end of 2022.

Nordmet AS continues its activities as a group head office and takes steps to mitigate the impact of events in Ukraine on the company's business activities, but it is difficult to measure all risks. Nordmet AS monitors sanctions imposed by the EU, USA and Swiss Confederation.

The structure of Nordmet AS as of 31.12.2022 is as follows: (cid:127) Nikolay d.o.o., Croatia, real estate development, participation acquired in 2006 - Nordmet AS participation 100%; (cid:127) Nordmet SA, Switzerland, activity of buying and selling metals, shares acquired by non-monetary contribution in 2012 - Nordmet AS participation 100%; (cid:127) NM Nord Investeringar AB, Sweden, investment activity, established in 2012 - Nordmet AS participation 100%; (cid:127) Lantana Metal Ticaret A.S., Turkey, activity of buying and selling metals, 100% participation, established in October 2022;