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's activity report 2022

Nordic Power Management OÜ was established on 29.04.2008.

During the financial year, the company mainly operated in the following areas of activity: (cid:127) Electricity portfolio management for electricity producers and consumers, including electricity purchase and sale; (cid:127) Purchase and sale of certificates of origin of electricity produced from renewable sources; (cid:127) Provision of balance services to electricity producers and consumers operating in the Estonian electricity system; (cid:127) Consultation and project management activities for companies and entrepreneurs operating in the energy sector, including large electricity consumers and electricity producers.

As a result of replacing the electricity sales activity license from 01.01.2019 with economic activities, Nordic Power Management OÜ has submitted an electricity sales economic activity notice to the economic activity register (notice number ELM000069).

Nordic Power Management OÜ has concluded a balance agreement with the Estonian electricity system system operator Elering OÜ and operates as a balance manager in accordance with the law.

Nordic Power Management OÜ is a member of the Nord Pool electricity exchange.

The financial year 2022 was very difficult in the company's field of activity. Due to the aggression of the Russian Federation's armed forces in Ukraine, extreme uncertainty and a rise in energy carrier prices occurred on the European energy market. Despite the difficult situation, the company was able to continue its economic activities on a smaller scale but profitably with the help of operational and correct decisions.

On July 6, 2022, it was decided to merge Nordic Power Management OÜ and the parent company BF Capital OÜ. The merging merger was Nordic Power Management OÜ. The shareholders of BF Capital OÜ became shareholders of Nordic Power Management OÜ in the same proportions. The share capital of the merging merger was not changed during the merger and the merging merger continued its usual activities under the business name Nordic Power Management OÜ.

On November 22, 2022, the company's shareholders decided to divide the merger by separation in such a way that the acquiring merger is the newly established merger Privilus OÜ during the division. As of the confirmation of the report, the separated company Privilus OÜ is no longer associated with Nordic Power Management OÜ. As a result of the division, Nordic Power Management OÜ's stake in Nordic Energy Solutions OÜ decreased to 34.16%.

In July 2022, the activities of the subsidiary Nordic Power Management SIA operating in Latvia were terminated, ending the group's activities. As of 2022, necessary business activities within the European Union are carried out through Nordic Power Management OÜ.

Main financial ratios:

Ratios: 2022 2021

Return on Assets (ROA) 0.20 0.07

Return on Equity (ROE) 0.68 0.28

Short-term liabilities coverage ratio 1.26 1.29

Return on Assets (ROA): net profit / assets

Return on Equity (ROE): net profit / equity

Short-term liabilities coverage ratio: current assets / short-term liabilities