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's activity report 2022

About the structure

Bolt Operations OÜ is a company that carries out activities directed at Bolt Group's customers, except in cases where Bolt operates through a local company (i.e., Bolt's local company enters into contracts with local third parties and manages business on-site with limited risk sharing).

Bolt Operations OÜ was the settlement and payment agent of Bolt Technology OÜ until the end of 2021.

As of January 1, 2022, all activities and employees directed at Bolt Group's customers were transferred to Bolt Operations OÜ, except in cases where Bolt operates through a local subsidiary (i.e., Bolt's local company enters into contracts with local third parties and manages business on-site with limited risk sharing).

2022 overview

The company's financial results depend on the results of Bolt Group's business activities. In 2022, Bolt Operations OÜ's sales revenue increased by 42% compared to the previous year and was 839 million euros. Bolt operated in more than 40 countries in 2022, mainly in Europe, the Middle East, and Africa. Compared to the previous year, we saw an improvement in business efficiency and profitability, despite the headwinds caused by inflation growth, interest rate increases, supply chain disruptions, and general economic uncertainty in many of our markets.

In late February, we witnessed tragic events caused by Russia's invasion of Ukraine. Bolt deeply condemned the invasion and decided to support both its local teams and the people of Ukraine through several initiatives. We donated over 3 million euros to support the people of Ukraine through local non-profit organizations in the first half of the year, and we continued to operate in the country throughout the year (assets and sales revenue were not significant in 2022).

We stopped all our activities in Belarus (assets and sales revenue were not significant in 2022).

Financial ratios 2022 2021

Sales revenue growth (%, year-on-year) 42.0% 128.1%

Operating profit margin 14.0% 0.1% (% of sales revenue) *Sales revenue growth = (Sales revenue in the current year/Sales revenue in the previous year - 1)*100