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's activity report 2022

This activity report reflects the period from 01.01.2022 to 31.12.2022.

The main activities of the companies belonging to the Neotech Development OÜ group are the development and management of computer systems and databases.

The annual report of the Neotech Development OÜ group consists of an activity report prepared by the management, a consolidated accounting annual report, an independent sworn auditor's report, and a profit distribution proposal. The consolidated annual report includes the unconsolidated main reports of the parent company as additional supplementary information in accordance with the requirements of the Estonian Accounting Act.

Neotech Development OÜ group pays great attention to quality improvement and cooperation with clients. The company follows a flexible pricing policy considering the real demand of the Estonian and foreign market.

The Neotech Development Group consists of the following companies: Neotech Development OÜ (Estonia) - parent company, Neotech Solutions INC (USA) - 100% subsidiary, Neotech Development SIA (Latvia) - 100% subsidiary, Neotech Development OOO (Belarus) - 99% subsidiary, which was sold in 2022.

The turnover of Neotech Development OÜ in 2022 was 10,119,960 euros and the loss was -1,272,285 euros.

____________________________________________________________2022 2021

Revenue growth (%) (sales revenue 2022-sales revenue 2021/ sales revenue 2021*100) -14.68 % 0.24%

Net profitability of turnover (%) (net profit/sales revenue*100) -12.57 % 9.16 %

Short-term liabilities coverage ratio (current assets/short-term liabilities) 1.69 % 2.41 %

Net profitability of assets ROA (%) (net profit/total assets*100) -44.38 % 23.53 %

Return on equity ROE (%) (net profit/total equity*100) -60.92 % 31.48 %

The risk of changes in exchange rates and interest rates is low. Settlements with suppliers and buyers are made in euros. Therefore, changes in exchange rates do not affect the company's operations.

The situation in the world has had an impact on the company's economic activity, in the spring of 2022 a subsidiary was sold in Belarus, but it has not caused doubt in the sustainability of the company's operations. The accounting annual report has been prepared based on the principle of continuity of operations.