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's activity report 2022

The OÜ Navalis Group (hereinafter the company) was established and registered in the Commercial Register on March 6, 2008. The company's financial year consists of 12 months. The financial year begins on January 1 and ends on December 31.

The company's main activity according to the Estonian economic activity classifier is 33151 or repair and maintenance of ships and boats.

Navalis Group OÜ employs more than 120 highly qualified shipbuilding specialists.

NAVALIS GROUP is insured by Zurich Insurance Group Ltd: employer's liability 2,500,000 euros, pollution (acute and accidental) 1,000,000 euros; product liability 500,000 euros, maintenance, storage and inspection 300,000 euros, access and recovery 500,000 euros. Our specialists perform a wide range of different tasks, such as assembly and installation of ship blocks on the slipway and in dry dock, manufacture and installation of pipelines and ventilation systems, sandblasting and painting work, interior work of any complexity. NAVALIS GROUP welders are certified by Bureau Veritas.

Our company's specialists currently work in Estonia, the Netherlands, Germany, France,

Finland and Lithuania. Our specialists perform all types of hull assembly and welding work from steel and aluminum alloys: assembly of small parts, flat panels, profiles, block manufacturing, Grand Block assembly. Installation and welding of Grand Blocks inside the hull on the slipway or in dry dock. Manufacturing and installation of cargo hatches.

NAVALIS GROUP specialists perform all ship repair work in the modernization and retrofitting of all types of ships. Repair of ship mechanisms and technical equipment, pipelines and ventilation systems, screw-steering system repair and installation, dock and mechanical work. Manufacturing and assembly of cargo hatch covers. We have extensive experience in manufacturing marine steel structures of any complexity and wide steel thickness with strict quality requirements. The company can manufacture and install ballast systems, fuel systems, compressed air systems, hydraulic and other ship systems. Pipe welders are certified by Lloyd's Register and Bureau Veritas. NAVALIS GROUP specialists perform such interior work as: installation of metal structures, electrical products, hull parts, installation of deck mechanisms and equipment; production and installation of pipelines and ventilation systems. All work is done according to the highest shipbuilding standards and on time.

Registered permanent place of business in the Netherlands and Finland. In 2023, a representative office was opened

in Germany.

The sales revenue for the reporting period amounted to 9,406,184 EUR.

The profit for the reporting period amounted to 1,037,958 EUR.

The company's board consists of three members, no benefits were given to the board member.

The company uses accounting services from the company Punamoon OÜ (www.punamoon.ee).

Main financial ratios 2022 2021

Sales revenue, in euros 9,406,184 6,195,407

Net profit/loss, in euros 1,037,958 -186,177

Net profitability, % 11.03 -3.00

Short-term obligations coverage ratio, times 2.00 1.81