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Harju Elekter to restructure its operations and establish new plants in Sweden

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Harju  Elekter  has  decided  to  centralise  production in Sweden by moving the
various  units  of  the  Swedish  subsidiary  to  Västerås and Malmö, as well as
establish  new  plants  in  these  locations  in  order  to  expand its business
activities.  As a result  of the decision,  Harju Elekter AB  signed a letter of
intent and a lease agreement today, on 13 September, for the establishment of an
office  and production building in Västerås and for a new production building to
be constructed in Malmö, respectively.

In  order to lease the 3,000 m(2) building in  Malmö, which will be completed by
the end of 2022, a ten-year lease agreement was entered into with Nyfosa AB. For
the  purpose of  establishing the  6,000 m(2) building  in Västerås, a letter of
intent  was signed  to purchase  LC Development  Fastigheter 17 AB,  currently a
wholly owned subsidiary of Wästbygg Gruppen AB. LC Development Fastigheter 17 AB
will  be  charged  with  the  management  of  issues  related  to  property  and
construction.  The letter of intent is valid  only if the Real Estate Council of
the  City of Västerås agrees  to sell a specific  plot of land to LC Development
Fastigheter  17 AB for  the establishment  of the  plant. The acquisition of the
company's  shares is planned to be completed no later than 1 November 2022. Both
production  buildings  will  be  established  by  Wästbygg  Gruppen AB for Harju
Elekter.

The  concentration of Harju  Elekter AB's operations  in Malmö and Västerås will
ensure  more efficient production, lower logistics costs, and better security of
supply for customers, serving as a prerequisite for profitable growth in Sweden.

Nyfosa  AB  is  a  transaction-based  property  company  that  creates  value by
accumulating  sustainable cash  flows and  continuously evaluating  new business
opportunities. Nyfosa's shares have been listed on Nasdaq Stockholm since 2018.

The  Wästbygg  Group  is  a  construction  and  project development company with
operations  in the most rapidly expanding  markets in Sweden. The company, which
is  listed  on  Nasdaq  Stockholm,  builds  and develops residential, commercial
buildings  and community service properties, as well as logistics and industrial
facilities  - always with a strong focus on sustainability. In 2020, the company
had a revenue of about SEK 3,8 billion and 310 employees.

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.  An  increasingly significant 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  800 specialists,  and  the  Group's sales
revenues  for the first  six months 2021 were  67,0 million euros. The shares of
Harju Elekter are listed on the Nasdaq Tallinn Stock Exchange.

Tiit Atso
Chairman of the Management Board
+372 674 7400

Prepared by:
Marit Tack
Corporate Communications Manager
+372 5340 8444
Email: [email protected]