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Decisions of the annual general meeting of shareholders

Teade

Nordecon AS (registry code 10099962, address Toompuiestee 35, 10149 Tallinn)
annual general meeting of shareholders was held on 23 May 2023 at 10.00 a.m. in
the conference centre of Radisson Blu Hotel Olümpia, room Gamma (Liivalaia
33, 10118 Tallinn).

The shareholders of Nordecon AS made the following decisions according to the
proposed agenda:

Agenda item No. 1. Approval of the Company's annual report for 2022 and proposal
for the allocation of profit

RESOLUTION No. 1

To  approve the Company's consolidated annual report for the 2022 financial year
as submitted by the management board.

RESOLUTION No. 2

To distribute the profit of the Company as follows: the net loss attributable to
the  owners of the Company for the 2022 financial year amounts to 3,650 thousand
euros.  The retained profit of previous periods amounts to 6,341 thousand euros.
To  cover the net loss of the 2022 financial year on the account of the retained
profit of the previous periods. To leave the retained profit of previous periods
in  the remaining part undistributed and  not pay dividends to the shareholders.
To  not make any appropriations to the  legal reserve or other reserves provided
for  by the law or  the articles of association.  The retained profit amounts to
2,691 thousand euros.

Agenda item No. 2. Election of auditor for the financial year 2023 and deciding
on the remuneration of the auditor

RESOLUTION No. 3

To elect the current audit firm of the group, KPMG Baltics OÜ, as the auditor of
the Company for the financial year 2023 and to pay for the services according to
the agreement to be signed with the auditor.

Agenda item No. 3. Extension of the authorisation of a supervisory board member

RESOLUTION No. 4

In  relation to the expiration of the term of office of supervisory board member
Andri Hõbemägi on 24 May 2023, to extend the authorisation of Andri Hõbemägi for
the  following period prescribed by the  articles of association, i.e. until 24
May 2028.

Agenda item No. 4. Remuneration of the members of the supervisory board

RESOLUTION No. 5

To  determine that as from 1 June 2023 the amount of the remuneration payable to
the  chairman of the  supervisory board is  9,500 euros per month,  to the vice-
chairman  of  the  supervisory  board  3,200 euros  per  month  and to the other
supervisory board members 1,300 euros per month.

At  the  annual  general  meeting  of  shareholders  17,804,311 ordinary  shares
entitled  to  vote  were  represented,  i.e.  54.99% of  total  ordinary  shares
outstanding.

Nordecon                                                       (www.nordecon.com
(https://www.globenewswire.com/Tracker?data=kyXQThkqVPuxbBOftMkkd4WoDxvLsLBwqFRV
HjBcB4mA--dtsKiS5jdQpciflf90w0xgKWakiJtcB_fnH4bM5A==))    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 2022 was 323 million euros.
Currently  Nordecon  Group  employs  close  to 580 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]
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PGCFFbWrn81kFc7L2TYExLT8zPBNhxw0Vleg8n_F3SrauG0kjBgJ)
www.nordecon.com
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JRuFifCuIxgh6K2iQkldDh_-56zrfOIANfd7DttxcPDuF8T6Xg==)