Construction contract (Nõlvakaare Selver)

AS Nordecon group company Embach Ehitus OÜ and Kaarsilla Kinnisvara OÜ entered into a design and construction contract of a commercial building located in Tartu County, Tartu Municipality, Raadi Borough, Nõlvakaare 4. This two-storey building will have a net area of 4,928 sqm and has commercial premises on the lower floor and a sports centre on the upper floor. The anchor tenant of the building is Selver AS.

The total value of the contract is 4.9 million euros without VAT and the works will be completed in July of 2024.

In addition, Embach Ehitus OÜ and Kaarsilla Kinnisvara OÜ have decided to terminate the construction contract, the conclusion of which was previously announced on 06 February 2023, due to the non-fulfilment of conditions precedent and the postponement of the project to the spring of 2025.

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, 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 570 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: andri.hobemagi@nordecon.com
www.nordecon.com