Changes in the Management Board of Nordecon AS

At a meeting of the Supervisory Board of Nordecon AS held on 6 November 2024, it
was  decided that as  of 1 January 2025, Priit  Luman will be  recalled from his
position  as  a  member  of  the  Management  Board,  and  Deniss Berman will be
appointed  as a new  member of the  Management Board, responsible  for sales and
pre-construction  at  Nordecon  AS.  Priit  Luman  will  continue as the head of
Nordecon AS's foreign markets.

Deniss  Berman graduated from Tallinn University of Applied Sciences in building
construction  and  holds  a  master's  degree  in environmental engineering from
Tallinn  University of Technology. Previously, Deniss worked in various roles in
construction  companies in both Estonia and Latvia. Since 2015, he has been with
Nordecon  AS,  serving  as  a  project  manager  and  later  as head of the HVAC
department, and head of the budgeting and special works division. Deniss holds a
level  8 professional qualification  as an  authorized heating, ventilation, and
cooling  engineer  and  is  a  member  of  the  Estonian  Society of Heating and
Ventilation Engineers. Deniss Berman does not hold shares in Nordecon AS.

As  of 1 January  2025, the Nordecon  AS Management  Board will consist of three
members:  Maret Tambek (Chair), Tarmo Pohlak  (Head of Construction), and Deniss
Berman (Head of Sales and Pre-construction).

Nordecon (www.nordecon.com (http://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,  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  2023 was 278 million euros. Currently
Nordecon  Group  employs  close  to  440 people. Since 18 May 2006 the company's
shares have been quoted on 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] (mailto:[email protected])
www.nordecon.com (http://www.nordecon.com)