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's activity report 2022

The main activity of Vestas Estonia is the marketing, sale, construction and maintenance of wind generators in Estonia.

Vestas Estonia received a 21 MW order for the Purtse wind project from Enefit Green AS's subsidiary Enefit Wind Purtse during the 2022 fiscal year.

In Estonia, which represents Vestas' entry into the Estonian market. This order also marks Vestas' first collaboration with Enefit Green. The order includes the delivery and installation of five V136-4.2 MW turbines, with the rotor installed at a height of 82 meters. Vestas Estonia will also maintain the turbines under a 30-year Active Output Management 5000 (AOM 5000) service contract. The service contract is the beginning of creating a long-term service footprint in Estonia. Deliveries for the Purtse wind project are expected to begin in the first quarter of 2023, with commissioning in 2023.

in the first half of the year.

Vestas Estonia also received a 39 MW order from Utilitas for the Saarde wind project in Estonia. The order includes the delivery, installation and commissioning of six V150-4.2 MW turbines. Vestas Estonia will also maintain the turbines under a 30-year Active Output Management 5000 (AOM 5000) service contract. Deliveries and installation for the Saarde wind project are expected to begin in the second quarter of 2023, with commissioning planned for the second half of 2023. The project is located in Southwestern Estonia, in Saarde municipality, Pärnu County.

Both the Purtse and Saarde wind park projects' development activities and initial work began in the fall of 2022, and both projects have been profitably realized on dates 22.03.23 and 06.09.23

Vestas Estonia, along with the rest of the Vestas companies, is a global partner in the energy industry for sustainable energy solutions. The company looks forward to a bright future and is ready to serve the Estonian market when the opportunity arises.

At the end of 2022, the company employed two people. No remuneration was paid to board members in 2022.

Main financial indicators and ratios: 2022

Equity: 5 886

Total assets: 43 775 155

Short-term obligation coverage ratio: 1.00

Formulas for ratios:

Short-term obligation coverage ratio: current assets / short-term obligations