Letter From the Group CEO Go to contents 3 Healthy financial results secure Staticus consolidates and our long-term future grows in 2022 thanks to its Our commitment to the long-term and our extremely resilience and agility “talented team enabled us to secure consistent growth and profitability in 2022, in line with our 3 year strategy. Our turnover grew from €62 million to €80 Nevertheless, the direction and mood of million. This growth was delivered not with the year was heavily impacted by Russia’s a higher volume of projects, but with higher invasion of Ukraine in late February. Along value projects. Indeed, the average value with the personal impact this had on us all, Aušra Vankevičiūtė / of our projects increased to €15 million, it also represented another major disruption Group CEO, Staticus and we secured our highest value project for our operations following COVID-19 and to date, the over €47 million facade for the the upheaval in the supply chain that had Landspítali Hospital in Iceland. impacted us in the previous two years. The focus of our management team in 2022 Initially, it was impossible to tell what the was on ensuring stable income and revenue impact of the war would be: how long with a high priority on cash flow. I am very it would last or what it meant for the proud of our management team, and the geopolitical situation. Furthermore, many of fact that our quite conservative approach in our team were understandably scared and rd For the 3 year in a row, I am starting my letter by largest-ever contract, enter new markets, grow uncertain times has yielded a very healthy unsettled. Meanwhile, the markets reacted writing that this was a year like never before. our annual revenue, and expand our team. We financial result. We remain unleveraged and and many developers started to reconsider remain unleveraged and in a healthy financial have good liquidity ratios. investments in new projects. After the turbulence of COVID-19 and global position, which gives us something hugely We benefited from the fact that we had supply chain disruption, 2022 saw the outbreak valuable in these turbulent times - security. This Prioritising resilience and long-term taken the strategic decision years before of war and the subsequent crises in energy and means safety and stability for our people and stability in volatile times to build our supply chain without using material prices. I am immensely proud that, in our clients, and is the foundation for all of the companies from Russia or Belarus. the face of these challenges, Staticus once again valuable work we do in R&D and sustainability, 2022 started very positively for us, with Nevertheless, material prices, including the launch of our corporate sustainability glass, increased after the onset of war, demonstrated its resilience. Our team was agile, and in delivering benchmark-setting projects. strategy and an extensive rebrand (more on and the energy crisis followed. Our teams tenacious and creative, enabling us to secure our those in a moment). worked exceptionally hard and effectively