Subsidiaries of Hepsor AS signed loan agreements for the realisation of Manufaktuuri quarter development projects

Group 1: Loan Agreements and Project Financing - Hepsor Phoenix 3 OÜ and Hepsor Phoenix 4 OÜ signed loan agreements with AS LHV Bank totaling 40.3 million euros to finance two development projects in Tallinn's Manufaktuuri quarter [1] - Hepsor Phoenix 3 OÜ secured a loan of 33.3 million euros for the construction of the first phase of the Manufaktuuri Factory, which will include 152 new homes with a total sales area of 10,420 m², with construction expected to be completed by Q4 2027 [2] - Hepsor Phoenix 4 OÜ signed a 7 million euros loan agreement for the residential development project Manufaktuuri 12, which consists of two apartment buildings with 49 apartments and a total saleable area of 3,090 m², scheduled for completion in the second half of 2026 [5] Group 2: Project Overview and Significance - The Manufaktuuri Factory is the largest development project in Hepsor's history, aimed at regenerating a former industrial area into a modern urban space that combines historic ambience with contemporary living [3] - The project is considered special not only within Hepsor's portfolio but also for Tallinn, as it is intended to be a state-of-the-art building that meets modern living expectations [4] - The Manufaktuuri quarter development, in partnership with Tolaram Group, has already seen the completion of 421 homes, with 96% sold, and the new agreements will lead to the construction of 201 new homes over the next two years [6] Group 3: Company Background - Hepsor AS is a developer of residential and commercial real estate operating in Estonia, Latvia, and Canada, with a total of 2,076 homes and nearly 36,300 m² of commercial space developed over fourteen years [7] - The company has implemented innovative engineering solutions to enhance energy efficiency and environmental friendliness in its buildings, with a portfolio of 25 development projects covering a total area of 178,200 m² [7]