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's activity report 2022

Nurme Road Construction Ltd started operations from March 2006 by purchasing the entire business of Valev Udras Ltd.

The company's activities include road construction, provision of transport services within the Republic of Estonia, preparation of construction sites and excavation and earthworks, holding relevant licenses. An important part of the business is also the extraction of sand and gravel, processing and sale of fill materials.

In 2022, we carried out both highway and city street construction works as well as reconstruction of RMK forest roads and land improvement systems.

As a main contractor, we carried out, among other things, the construction of the Tõstamaa light traffic road, with the client being Pärnu LV. For RMK, we carried out the reconstruction of the Kiususaadu road,

construction of Koluta-Sikaste and Sinimäe roads, construction of the Lemmjõe bridge and access to Mulgi hayfield.

As a subcontractor, we carried out, among other things, earthworks and foundation construction in the reconstruction of state road no. 59 Pärnu - Tori km 16.8-21.05, Ämari

Air Base fuel terminal construction, Härma 3 (in Pärnu) football hall and field construction.

In 2022, a merger took place with Tahku Roads Ltd and there were changes in the composition of shareholders and the board.

The balance sheet date of the merger of Tahku Roads Ltd and Nurme Road Construction Ltd was January 1, 2022.

The following table refers to the company's financial indicators:

Indicators (thous.eur.) 2022 2021 2020

Sales revenues 8473 10711 11739

Net profit(-loss) -32 165 -296

Assets 3770 4525 4277

Equity 1594 2663 2497

ROA -1% 4% -7% (net profit/assets)

ROE -2% 6% -12% (net profit/equity)

The company has a management system in accordance with ISO 9001:2015 and ISO 14001:2015 standards. The management system is certified by Bureau Veritas

Estonia Ltd.

We will continue in the same fields of activity in the next financial year.

The average number of employees of Nurme Road Construction Ltd during the financial year was 42 employees. In 2022, wage costs amounted to 1317.6 thousand euros.

Avo Rits, board member

Tarvi Miilits, board member