Mainor Ülemiste
Interim information

Mainor Ülemiste AS Interim Report 4Q 2022

MAIN EVENTS IN Q4 2022

October 5, 2022

Ülemiste City caterers gave up on single-use packaging for takeaway food

Since October, Ülemiste City caterers gave up on single-use packaging and completely switched to reusable containers when selling takeaway food, saving 200,000 single-use packages per year. The developers of Ülemiste City, Technopolis Ülemiste and Mainor Ülemiste would like the campus to become the first green city in Estonia. Since the beginning of the project, around 40 Ringo packaging return boxes have been installed in Ülemiste City and 30,000 reusable packages have already been used in the community.

November 11, 2022

The outdoor working spaces, walking meeting track and health exhibition received the recognition of Harjumaa Health Act 2022

Harjumaa Health Act is the recognition issued by Harjumaa Omavalitsuste Liit and Harjumaa Tervisenõukogu to highlight an undertaking, building, area or facility that supports successful mental and physical health, thanks to which the community has improved or created favourable conditions for increasing health awareness and reducing risk behaviour. Over the past few years, Ülemiste City has created an environment encouraging people working on campus to move actively during the day and work outdoors. The walking meeting track through the campus is designed for year-round use, and in 2022, in cooperation with the Estonian Health Museum, an outdoor exhibition about the importance of movement and health topics was opened on the track.

November 17, 2022

The opening of Alma Tomingas building

On November 17, a building named after Alma Tomingas, the first female professor of Estonia, was opened in Ülemiste City. The 30-million-euro building makes it the largest investment in an office building project on campus. The opening of a unique green building in Europe marked the completion of the Öpik quarter and the pedestrian promenade as a comprehensive and human-friendly 5-minute urban space.

Large international corporations such as Fujitsu and Breakwater Technology, as well as Estonian innovation and development leaders Skeleton Technologies and the Estonian Business and Innovation Agency, started operating in the building.

The 11-story office building has been built in a sustainable manner. The building is planned to be awarded the energy and environmental sustainability LEED gold status. It has solar panels and a green roof. The building uses green energy, and the Utilitas district heating and cooling systems installed last year. The main designer of the over 20,000 square metre building is the architecture office PLUSS. The building was constructed by teams from Nordecon and NOBE.

The builders used building information modelling (BIM) to manage, organise, and control the construction process. The builder delivers the AS-Built model to the developer, which enables the building to be managed in the future with significantly more efficient and lower lifetime costs.

Ülemiste City Key Figures (as of 31.12.2022)

Leasable space                    218,100 square meters (202,000 square meters as of 30.09.2022)

Incl. leasable office space    167,300 square meters (151,200 square meters as of 30.09.2022)

Occupancy rate                    92.4%

Incl. office's occupancy rate 93.5%

FINANCIAL PERFORMANCE

4Q 2022 - Net profit EUR 1,841 thousand

Net Sales and Net Profit

• Net sales amounted to EUR 4,607 th in the 4^th quarter, increase of 25.7% compared to the 4^th quarter of 2021
• Operating profit amounted to EUR 2,374 th in the 4^th quarter, decrease of 9.5% compared to the 4^th quarter of 2021
• Net profit amounted to EUR 1,841 th, decrease of 2.2% compared to the 4^th quarter of 2021.

Expenses

• Operating expenses increased from EUR 2,186 th (4^th quarter 2021) to EUR 3,217 th in the 4^th quarter of 2022
• Interest expense on loans and issued bonds increased from EUR 816 th (4^th quarter 2021) to EUR 963 th.

Interest-bearing liabilities

• Mainor Ülemiste AS interest-bearing liabilities amounted to EUR 118,540 th. The Company's four largest creditors at the end of period were SEB Pank AS, Luminor Bank AS, OP Corporate Bank Plc, LHV Pank AS and COOP Pank AS.
• At the end of the reporting period, Mainor Ülemiste AS had EUR 15,186 th in untapped credit facilities.

Statement of the management board

The financial and other additional information published in the Interim Report October-December 2022 is true and complete. Consolidated financial statements give a true and fair view of the actual financial position, results of operation and cash flows of the group.
Consolidated financial statements in the report for the period October-December 2022 are not audited.

Ursel Velve
CEO
Tallinn, 31.01.2023

CONSOLIDATED INCOME STATEMENT

(According to IFRS)                                                                         In thousands Euros

* Without change of valuation of Mainor Ülemiste AS's and associate companies' investments properties.

CONSOLIDATED BALANCE SHEET

(According to IFRS)                                                                          In thousands Euros

* Without change of valuation of Mainor Ülemiste AS's and associate companies' investments properties.

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

In thousands of Euros

CONSOLIDATED CASH FLOW STATEMENT

In thousands Euros

         Mainor Ülemiste AS
         Sepise 7
         11415 Tallinn
         Phone: +372 5304 6992
         E-mail: info@mainorulemiste.ee
         www.mainorulemiste.ee