Nordecon — Board/Management Information 2026

Feb 20, 2026

Change in the management board of group subsidiary

Change in the management board of group subsidiary

By a resolution of the shareholders of Embach Ehitus OÜ, a 51%?owned subsidiary
of Nordecon AS, Ahto Aruväli has been appointed as a new member of the
management board and will assume responsibility for leading Embach Ehitus OÜ's
North Estonia division.

Ahto Aruväli has graduated from Tallinn University of Applied Sciences with a
degree in building construction and from the University of Tartu with a degree
in strategic management. Previously, Ahto has served as a member of the
management board of Bildgren Ehitus OÜ, INF Infra OÜ and INF Ehitus OÜ. He holds
a Level 7 professional qualification as a Chartered Civil Engineer in
construction activities, design management and construction cost estimation, and
is a member of the management board of the Estonian Association of Construction
Entrepreneurs. Ahto Aruväli does not hold shares in Nordecon AS.

The management board of Embach Ehitus OÜ will continue with three members:
Andres Salusaar (Chairman), Peeter Voovere (Head of Sales and Pre?Construction),
and Ahto Aruväli (Head of the North Estonia Region).

Nordecon (www.nordecon.com) 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, 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 2025 was 208 million euros. Currently Nordecon Group employs close 430
people. Since 18 May 2006 the company's shares have been quoted in the main list
of the Nasdaq Tallinn Stock Exchange.

Andri Hõbemägi
Nordecon AS
Head of Investor Relations
Tel: +372 6272 022
E-mail: [email protected] (mailto:[email protected])
www.nordecon.com (http://www.nordecon.com)