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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 21 May 2025 at 10.00 a.m. in
the conference centre of Radisson Blu Hotel Olümpia, room Sigma (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 2024 and proposal
for the allocation of profit

RESOLUTION No. 1

To  approve the Company's consolidated annual report for the 2024 financial year
as submitted by the management board.

RESOLUTION No. 2

To  distribute the profit of the Company as follows: the net profit attributable
to the shareholders of the Company for the 2024 financial year amounts to 3,827
thousand  euros. The retained profit of previous periods amounts to 919 thousand
euros.  To leave the  retained profit of  previous periods 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.

Agenda  item No. 2. Election of auditor for the financial year 2025 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 2025 and to pay for the services according to
the agreement.

Agenda  item No.  3. Extension of  the authorisations  of the  supervisory board
members and remuneration of the supervisory board members

RESOLUTION No. 4

4.1. In  connection with the expiration of the term of office of the supervisory
board  members Toomas Luman, Andre Luman, Sandor Liive and Vello Kahro on 20 May
2025, to  extend  the  authorisations  of  the current supervisory board members
Toomas Luman, Andre Luman, Sandor Liive and Vello Kahro for a new statutory term
until 20 May 2030.
4.2. To  determine  that  as  from  1 June  2025 the  amount of the remuneration
payable  to the chairman of the supervisory  board is 13,500 euros per month, to
the  vice-chairman of  the supervisory  board 4,500 euros  per month  and to the
other supervisory board members 1,500 euros per month.

At  the  annual  general  meeting  of  shareholders  17,984,504 ordinary  shares
entitled  to  vote  were  represented,  i.e.  55.55% of  total  ordinary  shares
outstanding.

Nordecon    (www.nordecon.com   (https://www.globenewswire.com/Tracker?data=swu-
sOqWjuVt8OsClwdXlBp1Z6c1AEjkEnCyoond411q3y3q7JJObXuXFog2sGD-
hUHD1BzttEoKtObS0WMZyVD427yfTM_T-cNPUFBIx3M=))   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  2024 was 224 million euros. Currently
Nordecon  Group employs 411 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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