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's activity report 2022

Introduction

The company represents all areas of activity of Hitachi Energy Ltd. in the market areas of Estonia, Latvia, and Lithuania.

In order to be closer to customers and to ensure communication in the native language, the company has representative offices in Latvia and

Lithuania, located in Riga and Vilnius, respectively.

Since 01.07. 2020, the company has been part of the Hitachi Group of companies. The company's activities are divided into two areas: sales and execution (equipment, systems, maintenance services, projects) for energy, industrial and transport sector customers, and business services (accounting, procurement and personnel services for group companies in the Northern Europe region).

Structure of Hitachi Energy

Hitachi Energy's activities include the production of high-voltage equipment and systems, the production and construction of high-voltage substations and systems improving the quality of electricity, the production of protection and automation systems for high-voltage power networks, the production of power and distribution transformers, the digitalization of the transport sector and energy, consultation and complex maintenance services for the entire product portfolio. The company located in Estonia is organizationally part of Hitachi Energy Europe companies. The Estonian company is coordinated by a similar company in Finland ("oversight country").

Also, the members of the Estonian company's council have been members of the Finnish company's management group since 01.07.2020. The sole owner of the company's shares is Hitachi Energy Ltd.

Hitachi Energy Estonia AS represents four Hitachi Energy business areas: - PGGI Integrated solutions for power grid nodes, solutions ensuring the quality of electricity and the stability of the power system, e-mobility solutions, consultation and maintenance activities - PGGA Power grid automation and protection systems, energy storage systems, asset management software packages - PGHV High-voltage products and systems - PGTR Power and distribution transformers

Overview of Hitachi Energy Estonia AS's 2022 financial year

The period covered in this report is 01.04.2022 - 31.03.2023.

The company's sales revenue was 20 mEUR.

Operating profit was 0.01 mEUR.

Cash flows were positive.

The volume of the company's orders in the financial period under review was 30 MEUR.