Notice of annual general meeting of shareholders of Nordecon AS - Seite 2

Agenda item No. 1. Approval of the Company’s annual report for the 2023 financial year and proposal for the distribution of profit

1.1. To approve the Company’s consolidated annual report for the 2023 financial year as submitted by the management board.

1.2. To distribute the profit of the Company as follows: the net loss attributable to the shareholders of the Company for the 2023 financial year amounts to 942 thousand euros. The retained profit of previous periods amounts to 2,691 thousand euros. To cover the net loss of the 2023 financial year on the account of the retained profit of the previous periods. To leave the retained profit of previous periods in the remaining part undistributed and not pay dividends to the shareholders. To not make any appropriations to the legal reserve or other reserves provided for by the law or the articles of association.

Agenda item No. 2. Election of auditor for the 2024 financial year and deciding on the remuneration of the auditor

The management board has carried out a competition in spring 2023 for the appointment of an audit firm for the Company for the following 3-year period (financial years 2023-2025) and has selected KPMG Baltics OÜ from the submitted offers as the best candidate in terms of quality and the price of the service. The auditor has confirmed as required by the Corporate Governance Code that it has no work, economic or other relations that would threaten its independence while rendering the auditing service.

The audit firm KPMG Baltics OÜ has provided auditing service to the Company in 2023 based on the contract signed in 2023. KPMG Baltics OÜ has provided auditing services in accordance with the aforementioned contract and the Company has no objections to the quality of the auditing service.

2.1. To elect the current audit firm of the group, KPMG Baltics OÜ, as the auditor of the Company for the financial year 2024 and to pay for the services according to the agreement to be signed with the auditor.

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The 2023 annual report of the Company and the independent auditor's report are available for review on the website of Nasdaq Tallinn Stock Exchange www.nasdaqbaltic.com.

All documents pertaining to the annual general meeting of the Company, including the draft resolutions and the reasoning of agenda items presented by the shareholders and the respective draft resolutions, the 2023 annual report, independent auditor’s report and profit distribution proposal and the written report of the supervisory board regarding the annual report and any other data to be published under the law and other relevant information regarding the agenda are available for review as of 19 April 2024 on the website of the Company at www.nordecon.com and as attachments to the stock exchange announcement on calling the general meeting. Questions related to the annual general meeting or its agenda items may be sent to the e-mail address [e-mail]. The questions, answers, shareholders’ proposals regarding the agenda items and the minutes of the general meeting will be published on the website of the Company at www.nordecon.com.