Eltel

Regulatory Filings • May 3, 2023

Press release 3 May 2023 at 08:00 CEST

Eltel enters new market by signing its first large-scale solar park contract in Finland

Eltel and Finnish energy company Helen have signed an agreement for the delivery by Eltel of a large-scale solar park in Lohja, Finland. The move into the solar PV market is a milestone for Eltel, supporting the company's continued expansion into the renewable energy sector. The contract is worth about EUR 3.1 million.

The solar park has a planned capacity of 10 MW and will represent a big step for the region's renewable energy production. The park's annual energy production is estimated to about 10 GWh, which corresponds to the annual electricity consumption of about 2,000 households (5,000 KWh per household).

With this project, Eltel will continue to play a significant role as a provider for critical infrastructure that enables renewable and sustainable energy.

The construction of the park, which covers about ten hectares, will commence later in 2023. It is estimated to take about one year for the 18,000 solar panels to be installed.

For further information:

Juha Luusua, Managing Director, Eltel Finland Phone: +358 40 311 3005, juha.luusua@eltelnetworks.com

Elin Otter, Director, Communications and Investor Relations Phone: +46 72 595 4692, elin.otter@eltelnetworks.com

About Eltel

Eltel is a leading service provider for critical infrastructure that enables renewable energy and highperforming communication networks. Eltel designs, plans, builds and secures the operation of networks for a more sustainable and connected world today and for future generations. In total, we have about 5,000 employees and in 2022 the annual sales was EUR 823.6 million. The head office is located in Sweden and Eltel's shares have been listed on Nasdaq Stockholm since 2015. Read more at www.eltelnetworks.com.