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's activity report 2022

Eventus Construction is a construction contracting and project management company based on Estonian capital, which has been operating since 2005.

The year 2022 was challenging for the economy as a whole and for construction companies in particular. Material supplies from Russia, Ukraine, and Belarus, which constituted a critical part of the total volume of construction materials supplied to Estonia and the entire neighboring region before they were interrupted due to the outbreak of war and the imposition of sanctions. The problem was exacerbated by changes in fuel and energy prices, which also affected construction inputs. In the second half of the year, the activities of central banks and the uncertainty of market participants about the final extent and impact of interest rate hikes were added to the equation.

The construction sector continues to operate in an extremely volatile environment. Particularly high risks are taken by contractors, whose main activity in addition to construction has become the daily answer to the question "what will tomorrow surprise us with?". From the beginning of the Covid-19 pandemic to the ongoing turbulence today, it has become the new normal for input prices to go through more than one cycle of change before fulfilling the obligations taken on by the construction contract. Three years have passed unnoticed in the whirl of uncertainty. Four years after a year.

As in the past, all Eventus Construction projects were completed on schedule and on time in 2022. The negative impact of market events on ongoing projects was minimized, major setbacks were avoided. The internal processes that have been streamlined in recent years have been adopted by the team and their implementation has been justified. This is also reflected in the company's 2022.

financial results for the year. There were no significant environmental and social impacts associated with the company's operations during the reporting year.

The investments made by the company were related to the acquisition of new real estate objects and the development of existing ones through the subsidiary

Eventus Real Estate.

The beginning of 2023 will bring a certain decrease in workload, which we have taken into account in resource planning. In the longer term, the question mark is the hoped-for end of the war and what comes with it. It is expected to have a perceptible impact on the construction sector, which will manifest itself in various forms and waves, with a delay.

The main values of Eventus Construction have been and will continue to be the well-being of employees and the trust of customers.

Group structure

Subsidiary: Eventus Real Estate OÜ 100%.

Through Eventus Real Estate OÜ subsidiaries: (cid:127) EVK Invest OÜ 90%, (cid:127) EVK Asset Management OÜ 100%, (cid:127) EVK L95 OÜ 100%

Through Eventus Real Estate OÜ associated companies: (cid:127) Teearu Development OÜ 40%, (cid:127) Eventus Hammerhead OÜ 50%, (cid:127) Sky Stone Business Center OÜ 25%; (cid:127) Football Residences OÜ 50%; (cid:127) Kiili Logistics Park OÜ 37.5%

The consolidation group does not have an approved group dividend policy, dividends are distributed based on the decision of the shareholders.