Harju Elekter — M&A Activity 2025

Oct 2, 2025

Merger of subsidiaries

Merger of subsidiaries

In line with AS Harju Elekter Group's strategy to focus on its factory-based
manufacturing and exit the retail and wholesale business of electrical materials
and equipment, the Group's wholly owned Estonian subsidiaries, AS Harju Elekter
and Energo Veritas OÜ, have initiated a merger process. The merger agreement was
signed on 01 October 2025.

As a result of the merger, Energo Veritas OÜ (the company being merged) will be
consolidated into AS Harju Elekter (the acquiring company), after which Energo
Veritas OÜ will be deemed dissolved. The actions required for the merger to take
effect will be completed during the first quarter of 2026.

Tiit Atso
Chairman of the Management Board
+372 674 7400