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's activity report 2022

SAP Estonia OÜ is a subsidiary of the German company SAP SE operating in Estonia. The main activity of SAP Estonia OÜ is the sale and maintenance of various SAP economic software applications in the territory of the Republic of Estonia. This includes both direct service to large customers and the development and organization of sales work for the partner channel. SAP Estonia OÜ is responsible for coordinating and implementing the marketing activities of SAP SE products in Estonia. In 2022, no significant investments were made, nor are they planned for 2023. The activities of SAP Estonia OÜ do not have significant environmental and social impacts.

In 2022, the sales revenue of SAP Estonia OÜ amounted to 4,949 thousand euros (2021: 3,467 thousand euros), The fiscal year ended with a profit of 452 thousand euros (2021: 493 thousand euros), This and the previous fiscal year, one employee worked at SAP Estonia OÜ. In 2022, the company's labor costs amounted to 176 thousand euros (2021: 140 thousand euros).

The management of SAP Estonia OÜ monitors the current situation in connection with the war in Ukraine and possible negative impacts that may affect the company. At present, there are no indications that the war would directly have negative consequences for the company's operations, but the management continues to monitor the situation.

After the end of the reporting period, no further significant events have occurred that could affect the company's business activities or financial results.

The main goal of SAP Estonia OÜ for the next fiscal year is to maintain and secure the company's market position.

The management of SAP Estonia OÜ is of the opinion that all necessary information for assessing the financial situation of the company is reflected in this report. zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA

Main financial ratios 2022 2021

Sales revenue 4,949,463 3,466,841

Net profit 452,449 492,651

Turnover growth (decline) 42.8% 14.0%

Operating profit amount 9.0% 14.2%

Net profitability 9.1% 14.2%

Short-term liabilities coverage ratio 3.2 3.8

ROA 10.1% 13.7%

ROE zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA 14.6% z ly xwvutsrqponm1l8k,6ji%h gzfyedxcwbvauZtYsrXqWpoVnUmTlSkjRihQgPfeOdNcMbaLZKYJIXHWGVFEUDTCSBRAQPONMLKJIHGFEDCBA

Calculation/ formulas used for ratios •Turnover growth(%)= (sales revenue 2021 - sales revenue 2020) / sales revenue 2020 • 100 •Operating profit amount(%)= Operating profit/ sales revenue• 100 •Net profitability(%)= net profit/ sales revenue• 100 •Short-term liabilities coverage ratio (times)= current assets/ short-term liabilities •ROA(%)= net profit/ total assets" 100 •ROE(%)= net profit/ total equity• 100 00---z---

Christian Larsen Pedersen Ari Petri Kalevi Pussinen

Chairman of the Board Board member