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's activity report 2022

In the past fiscal year, E-Service AS carried out its statutory activities without significant seasonal fluctuations: electrical work, including maintenance work, indoor work, and the construction of cable routes and substations, as well as the construction of solar power plants. Good cooperation with existing key clients was ensured and the portfolio of key contracts was supplemented. The high-voltage laboratory and the measuring laboratory worked stably. Throughout the year, the focus was on retaining existing clients and providing quality service, as well as finding new clients. In the coming years, the expansion of the key client base with solvent and reliable clients will continue, and participation in the procurement of Elektrilevi OÜ network works throughout Estonia.

In cooperation with Enersense AS, the framework agreement started in 2021 for the execution of Elektrilevi OÜ network works in the Lääne-Harju region was continued. Together with Leonhard Weiss OÜ, the period of the framework agreement for the execution of Elektrilevi OÜ network works in the South Tartu region was completed and the new framework agreement period procurement procedure was successful, with work starting in 2023. Globally, the energy sector is becoming increasingly important. The economic impact is felt in the Estonian market in the form of greater growth in green energy. The desire to establish solar parks has become more active for both legal and physical persons. The volume of electric car charger installations continues to increase. This also positively affects

the development of E-Service AS in the respective fields. At the same time, we keep up with new trends in the market and are ready to actively expand our areas of activity according to market demand. The growth of labor costs and the inadequacy of professional quality labor continue to be a major challenge. As one solution, we have taken on young diligent students for internships, many of whom have continued to work at E-Service AS after graduation.

The Russian military invasion and the start of a full-scale war in Ukraine had a major impact on the market, leading to a sharp increase in the price of materials and supply problems. We have been able to manage these risks by increasing warehouse stocks and immediate procurement of materials after signing work contracts. No major investments were made in our own real estate during the reporting year. In 2023, it is planned to invest approximately 250,000€ in improving our own real estate, including the procurement of energy storage technology.

We continued to digitize our operations in cooperation with partners to make work more efficient and contribute to environmental protection. In 2022, we invested approximately 60,000€ in digitization, which improved the efficiency and traceability of work processes. In 2023, we plan to invest approximately 90,000€ in digitization.

The number of employees in 2022 was 137. Salaries were paid 3,405,771 euros without taxes. In 2022, the members of the company's board were paid a fee of 19,955 euros. No compensation is paid to board members in case of termination of their contract. E-Service AS operates in the Estonian market, therefore there are no direct balance sheet effects due to possible changes in exchange rates and stock prices. Considering the above, E-Service AS is also sustainable in the following years

Financial ratios Calculation methodology 2022 2021 sales revenue 2022 - sales revenue

Turnover growth 0.33 0.22 2021)/sales revenue 2021 (net profit 2022 - net profit 2021)/

Profit growth 0.95 2.63 net profit 2021

Solvency (current assets - inventories)/ 0.54 0.95 multiplier short-term obligations obligations / assets

Debt ratio 0.62 0.56 cost

Net profitability net profit / sales revenue 0.05 0.03