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's activity report 2022

Tera Ehitus OÜ (formerly known as Tevent Kliima OÜ) was established in 2010 and has been a subsidiary of Tartu Ehitus AS since September 2021. The main activity of Tera Ehitus OÜ is general contracting and project management in the construction market of Western Estonia. The company's goal is to provide comprehensive construction management services to both public and private sector clients.

The sales revenue for 2022 was 3,786,340 euros, net profit 543,279 euros. In 2021, the company had no sales revenue, the net loss was 6,488 euros.

In 2022, there were 5 construction sites, four of which will continue to work in 2023. Public procurements made up 88% of Tera Ehitus OÜ's turnover in 2022 and private procurements 12%.

MAJOR PROJECTS IN 2022 (cid:127) Pärnu State House Roheline 64, Pärnu (renovation) (cid:127) Pärnu State House Akadeemia 2, Pärnu (renovation) (cid:127) Pärnu Vocational School Niidupargi 8/12, Pärnu (renovation) (cid:127) Bilder Grupp OÜ store-warehouse and pvc hall Arukase 8, Pärnu (new building) (cid:127) Boardic Estonia production building extension Valgu tee 3, Libatse village, North Pärnumaa municipality, Pärnu county (new building)

KEY FIGURES AND THEIR CALCULATION METHODOLOGY 2022 a.

(cid:127) Net profit margin 14.3% (cid:127) Operating profit margin 14.3% (cid:127) Return on equity per year 198.7% (cid:127) Return on assets per year 51.5% (cid:127) Equity ratio 25.9% (cid:127) Current ratio 1.3 (cid:127) Labor costs from sales revenue 2.9%

Net profit margin: net profit/sales revenue x 100

Operating profit margin: operating profit/ sales revenue x 100

Return on equity per year: net profit /average equity for the period x 100

Return on assets per year: net profit/ average total assets for the period x 100

Equity ratio: equity/ total assets x 100

Current ratio: current assets /current liabilities

Labor costs from sales revenue: labor costs/ sales revenue x 100

The goals of Tera Ehitus OÜ for 2023 are to continue profitable and quality construction activities in the Estonian construction market, to increase the qualified team and to find new partners. Positive expectations are confirmed by the fact that at the beginning of the year there are projects carried over from the previous year worth 5 million euros. The achievement of the goals is supported by the company's strong engineering team, most of whom have long-term work experience in the construction field. In addition, cooperation is carried out with the parent company Tartu Ehitus AS, which has experience in the construction market for over 30 years.

In cooperation with the parent company, Tera Ehitus OÜ has the opportunity to participate in large-scale public and private sector procurements, which significantly expands the volume of possible procurements.