Appointment of a new member of the board of Nordecon AS and extension of terms of office of the members of the board

The council of Nordecon AS decided on its meeting held on 20 April 2023 to appoint Tarmo Pohlak as a new member of the management board as of 05 June 2023, who will be responsible for the construction activities of Nordecon AS.

Tarmo Pohlak has graduated from Tallinn University of Technology with a curriculum in construction economics and management as a Master of Civil Engineering/Technical Sciences. Previously, Tarmo has worked in different companies of Merko Ehitus group (1997 - 2017), reaching the position of the Director of the General Construction Division of AS Merko Ehitus Eesti and a member of the Management Board of AS Merko Infra. From 2017 to 2019 he was the member-construction director of the management board of AS Oma Ehitaja and from 2019 until now the member-construction director of the management board of OÜ US Real Estate.

Also, due to the expiry of the terms of office for the management board members Maret Tambek and Priit Luman on 30 April 2023, the council of Nordecon AS decided simultaneously to prolong the terms of office for Maret Tambek and Priit Luman until 30 April 2026.

As of 05 June 2023 the management board will continue to operate with four members: Gerd Müller (chairman), Maret Tambek (finance and support functions), Tarmo Pohlak (construction) and Priit Luman (business development).

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 660 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