Construction contract (Uusküla spa hotel)

Nordecon AS and its subsidiary Embach Ehitus OÜ as joint bidders and Loodusspaahotell OÜ have signed a general construction contract for the construction of the Uusküla spa hotel in Alutaguse municipality. The nature spa hotel, designed to blend into the natural environment on the northern shore of Lake Peipus, will meet the quality requirements for LEED environmental certification at the gold level. The expected deadline for the construction works is summer of 2026, with the contract valued at 28.3 million euros, excluding VAT.

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, 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 430 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

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