Harju Elekter

Capital/Financing Update • Feb 7, 2023

Company	AS Harju Elekter Group
Type	Company Release
Category	Other corporate action
Disclosure time	07 Feb 2023 16:12:09 +0200

Currency

Title

Harju Elekter signed a construction contract for a production building in the Allika Industrial

AS Harju Elekter announced in a stock exchange announcement (https://view.news.eu.nasdaq.com/view?id=b50c2d8d7bfe9fa4ed17fa4fdffc519dc&lang= en) on 8 June 2022 that they were planning to build a new production building in the Allika Industrial Park. To this end, AS Harju Elekter and Nordecon Betoon OÜ (brand name NOBE) signed a construction contract for a production and office building at Angerja tee, Hüüru. Together with the construction cost of the building, the total real estate investment will amount to 5 million euros, and the works will be completed in December 2023.

Nordecon Betoon OÜ is a company of Nordecon Group. Nordecon is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Finland, Ukraine and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated revenue of the Group in 2021 was 289 million euros. Currently Nordecon Group employs close to 670 people.

The real estate unit of Harju Elekter Group is engaged in the development of industrial real estate, project management, leasing, and related services for both rental partners and Harju Elekter's own companies. The real estate unit manages a total of nine industrial parks in Estonia, Finland, Sweden, and Lithuania.

Harju Elekter is an international industrial group with extensive experience in providing future proof solutions for electrical power distribution. We engineer, manufacture, and install electrification solutions for utilities, industries, infrastructure, public and commercial buildings. The entities of Harju Elekter Group in Estonia, Finland, Sweden, and Lithuania employ around 900 people, and the Group's nine-month revenue in 2022 was 125.3 million euros.

Aron Kuhi-Thalfeldt Real Estate Department Manager/Member of the Management Board +372 5171448

Finantsinspektsioon http://www.fi.ee

Finantsinspektsioon http://www.fi.ee