The audited consolidated annual report of 2023 were approved on 28 June 2024 by the Annual General Meeting Of Shareholders Of Mainor Ülemiste AS.

In 2023, the entity continued to develop Ülemiste City office campus, including the construction of new and modernization of already existing buildings, renting premises, providing tenants with necessary services and developing these services, preparing new real estate projects.

The consolidated turnover of Mainor Ülemiste AS in 2023 amounted to 18,142 thousand euros (2022: 16,244 thousand euros), other operating income was 4,614 thousand euros (2022: 13,198 thousand euros) and net profit 7,937 thousand euros (2022: 30,400 thousand euros), including revaluation of investment property in the amount of 4,584 thousand euros (2022: 12,961 thousand euros). As of the end of the financial year the total equity of the company was 161,737 thousand euros.

A total of 13,788 thousand euros was invested in the construction of buildings and improvement of equipment in 2023. In 2023, bank loans in the amount of 6,940 thousand euros were received and 3,226 thousand euros repaid.

New bonds in the amount of 12,106 thousand euros were issued. 10,000 thousand euros worth of bonds redeemable on 5 April 2023 were redeemed. The holders of 3,622 thousand euros worth of the bonds redeemable on 5 April 2023 decided to continue in the new issue.

As at 31 December 2023, the fair value of Mainor Ülemiste AS's investment property amounted to 206,452 thousand euros, increasing by 9,672 thousand euros compared to last financial year.

The audited consolidated annual report for 2023 of Mainor Ülemiste AS is available on the Nasdaq Tallinn web page.

Ursel Velve

CEO

Phone: +372 507 9781