Audited Consolidated Annual Report 2016 On 17 Ap

On 17 April 2017 the Supervisory Board Of Mainor Ülemiste AS approved the audited consolidated annual report 2016 and on 10 Mai 2017 Annual General Meeting Of Shareholders Of Mainor Ülemiste AS approved 2016 Profit Distribution Proposal.

In 2016, the entity was mainly engaged in the construction of new buildings, renovation of existing buildings, renting new and renovated premises and with the preparation of new real estate projects.

Mainor Ülemiste AS consolidated turnover in 2016 amounted to 5,729 thousand euros (2015: 5,084 thousand euros), other operating income amounted to 1,765 thousand euros (2015: 846 thousand euros) and net income amounted to 6,417 thousand euros (2015: 5,478 thousand euros). The total equity of the company is 84,255 thousand euros.

In 2016, a total of 16,034 thousand euros was invested into the improvement of buildings. A total of 20,628 thousand euros was taken as a loan in 2016, of which 6,517 thousand euros was used to refinance old loans and 14,056 thousand euros was used to cover investments. To raise capital for the further development of Ülemiste City commercial district, the completion of an emission declared in 2015 in the amount of 5 million euros, was realized in the amount of 849 thousand euros.

The fair value of real estate investments of Mainor Ülemiste AS is 84,810 thousand euros and it has increased compared to previous year by 17,680 euros. The value of the 49% stake of Mainor Ülemiste AS in Technopolis Ülemiste AS is worth 27,629 thousand euros and it increased by 2,634 thousand euros during the year. Dividends were received in the sum of 868 thousand euros from affiliated company Technopolis Ülemiste AS.

The audited Annual Report 2016 of Mainor Ülemiste AS is available Nasdaq Tallinn home page.

Margus Nõlvak

Member Of Management Board

Tallinn, 30.06.2017