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's activity report 2022

The priorities of Kaska-Luiga OÜ are dairy farming and milk production. In addition, the company is also involved in the rearing of young cattle and the sale of breeding animals to Europe and largely to third countries. Providing services is one source of additional income.

In 2022, Kaska-Luiga OÜ sold 8571 tons of milk for 4,020,543 euros. Kaska-Luiga OÜ sold 14 breeding heifers for 22,400 euros. Kaska-Luiga OÜ sold 1470 tons of grain for 554,447 and 315 tons of rapeseed for 205,921 euros.

During the reporting period, the group employed 49 workers. The total labor costs for 2022 were 1,391,499 euros. No additional payments are provided for board members upon recall or departure from office.

In 2022, the grain storage facilities were renovated. A solid manure storage was added. The old silo was reconstructed, now accommodating 3000 tons of silage instead of the previous 1700 tons. The robotic barn was expanded, with an additional 2 robots added to increase the number of milking places. In addition, the young cattle barn was expanded, adding 75 animal places.

In February 2022, the Ukraine-Russia war began. Currently, there is a noticeable shortage of animal protein on the world market, which is due to the war and also the weather conditions of the rest of the world. Our production is significantly affected by the increase in energy prices and the significant increase in the price of plant proteins due to the war. The group has no other direct contacts with Russia.

In the management's opinion, the direct impact of the current geopolitical environment on the company's financial position is minimal.

At the end of the reporting period, the consolidation group included KASKA-LUIGA OÜ (parent company) and Kaska-Luiga Farms OÜ (subsidiary).

The main financial ratios of the consolidation group and their calculation methodology:

Title Calculation Methodology 2022 2021

Short-term debt Turnover/short-term 1.35 1.54 multiplier liabilities

Liabilities

Debt ratio 0.50 0.52 total/total assets

Asset profitability Net profit 6.28 2.29 (ROA)% (-loss)/assets*100 In 2023, a project for the construction of a 5000 ton silo and the purchase of a self-propelled spreader was submitted to PRIA. The design of a biogas plant, construction conditions and permits have also been started.

No special changes in the company's strategy are foreseen. No research and development expenditures were made during the reporting period. The company continuously invests in improving production efficiency.