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Pealkiri

Decisions of the annual general meeting of shareholders

Teade

Nordecon AS (registry code 10099962, address Toompuiestee 35, 10133 Tallinn)
annual general meeting of shareholders was held on 20 May 2020 at 10.00 a.m. in
the conference centre of Radisson Blu Hotel Olümpia, room Omega (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 2019 and proposal
for the allocation of profit

RESOLUTION No. 1

To approve the Company's consolidated annual report for 2019 as submitted by the
management board.

RESOLUTION No. 2

To allocate the profit of the Company as follows: the Company's consolidated net
profit  of the 2019 financial year amounts to 3,378 thousand euros. The retained
earnings  of  previous  periods  amount  to  9,005 thousand  euros. To leave the
retained  earnings of previous  periods as at  31 December 2019 in the amount of
12,383 thousand  euros  undistributed.  Not  to  make  any appropriations to the
capital  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 2020 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 2020 and to pay for the services according to
the agreement to be signed with the auditor.

Agenda  item No.  3. Extension of  the authorisations  of the  supervisory board
members,  election of  a new  supervisory board  member 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, Meelis Milder, Sandor  Liive and Vello Kahro on 20
May  2020, to extend the authorisations of the current supervisory board members
Toomas Luman, Sandor Liive and Vello Kahro for a new statutory term until 20 May
2025.

4.2 To  elect Andre  Luman as  the new  member of  the supervisory  board of the
Company until 20 May 2025.

4.3 To  reduce the  remuneration of  the chairman  of the supervisory board, the
deputy  chairman of the  supervisory board and  other members of the supervisory
board  by 20% and to establish as of  1 June 2020 that the basic remuneration of
the  chairman of the supervisory board shall be 7,200 euros per month, the basic
remuneration  of the  deputy chairman  of the  supervisory board shall be 2,400
euros  per month and  the basic remuneration  of other supervisory board members
shall be 960 euros per month.

At   the  annual  general  meeting  of  shareholders  22,041,282 ordinary shares
entitled  to  vote  were  represented,  i.e.  69.91% of  total  ordinary  shares
outstanding.


Nordecon                                                       (www.nordecon.com
(https://www.globenewswire.com/Tracker?data=9IPSi4lLKYSdSgPJkqG1T9F-
vuuJMCtOE5EEE13OKvkfH8u8t5OO5ha6Z41QelWWu4DNyj-AGrHbufXAYnXuvQ==)) 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,  Sweden, Finland and Ukraine. The
parent of the Group is Nordecon AS, a company registered and located in Tallinn,
Estonia.  The consolidated revenue  of the Group  in 2019 was 234 million euros.
Currently  Nordecon  Group  employs  close  to 700 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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