Harju Elekter

Related Party Transaction • Mar 3, 2022

Company	AS Harju Elekter Group
Type	Company Release
Category	Other corporate action
Disclosure time	03 Mar 2022 09:26:00 +0200

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The Lithuanian factory of Harju Elekter Group signed an agreement for the supply of motor

The Lithuanian subsidiary of Harju Elekter Group, Harju Elekter UAB, signed a contract on 1 March 2022 with U.S. Steel Corporation (Exploratory Ventures LLC) to produce low voltage drives and MCC systems to control 1500 motors that will be used in new Big River Steel facility in Arkansas. The beginning of production and supplies are scheduled for this year. Production and deliveries will take place until April 2023. The approximate volume of the contract is 10 million euros.

Founded in 1901, United States Steel Corporation is a leading steel producer that serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel's proprietary XG3(TM) advanced high-strength steel. The company also maintains iron ore production and has an annual raw steelmaking capability of 22.4 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with operations across the United States and in Central Europe.

Big River Steel is part of U.S. Steel Corporation and is the only steel production facility to be LEED (Leadership in Energy and Environment Design) certified.

Harju Elekter UAB provides detail engineering, contract manufacturing and full load testing services for marine and industrial system integrators.

Harju Elekter is an international industrial group with more than 50 years of experience, with its main activity being the development and production of electrical and automation solutions. A portion of Harju Elekter's technical solutions are aimed at the renewable energy sector, thus offering complete plans for solar power plants, electric vehicle charging stations and other related solutions. Its factories in Estonia, Finland, Sweden, and Lithuania employ approximately 900 specialists, and the Group's revenue for 2021 was 152 million euros. The shares of Harju Elekter are listed on the Nasdaq Tallinn Stock Exchange.

Finantsinspektsioon http://www.fi.ee

Tiit Atso Chairman of the Board +372 674 7400

Additional information: Tomas Pr?sas Managing Director of Harju Elekter UAB +37068746399

Prepared by: Marit Tack Corporate Communications Manager +372 5340 8444 E-mail: marit.tack@harjuelekter.com

Finantsinspektsioon http://www.fi.ee