Construction contract (Renovation of Tallinn Art Hall)

Nordecon  AS and SA  Kunstihoone entered into  a contract for  the renovation of
Tallinn Art Hall building, located at Vabaduse väljak 6/8. The total cost of the
contract is 7.99 million euros excluding VAT, and the works will be completed in
18 months.

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 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]
www.nordecon.com (http://www.nordecon.com)