CEO of Nordecon AS not to continue on his position after expiry of the Contract of Service on 7 January 2024

Gerd Müller, CEO of Nordecon AS informed the council that he will not continue as CEO of the company after the expiry of his contract of service on 7 January 2024, informs the council of Nordecon AS. Until the appointment of the new chairman of the management board, Maret Tambek, a member of the management board of Nordecon AS, will act as the acting chairman of the management board as of 8 January 2024.

Gerd Müller has been in charge of Nordecon AS since the beginning of 2018 and is leaving the company at his own request. "Managing Nordecon has been extremely interesting, intense and challenging. I feel that these six years have gone by flying on the one hand, on the other hand, it has been a time of great change, which has given me the opportunity to constantly test my knowledge and skills. Nordecon has a highly capable and competent team, and the company has a strong portfolio of works ahead of it, and we have also taken bold steps in the field of digitalisation. For the new chairman, this is a good moment to start," said Gerd Müller, CEO of Nordecon AS.

"Nordecon, under Gerd's leadership, has been able to react quickly in a stormy market and make the necessary changes. I thank him for his dedication in these six years. The Supervisory Board will now start the search for a new chairman of the management board." said Toomas Luman, chairman of the supervisory board of Nordecon AS.

As of 8 January 2024, the management board of Nordecon AS will continue with three members: Maret Tambek (acting chairman), Priit Luman and Tarmo Pohlak.

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 570 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