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's activity report 2022

Mölnlycke Health Care OÜ (hereinafter also referred to as the „Company“) was established in 2002.

The main activities of the company are the sale of single-use surgical linen and clothing, additional surgical tools and customer-specific sets, surgical gloves and wound care products in Estonia and Latvia, sales consulting and organizing product usage training in Estonia and

Latvia. Sales are made to major hospitals and through wholesale companies (Mediq Eesti OÜ, Tamro Eesti OÜ, MM Grupp OÜ and Recipe Plus).

Mölnlycke Health Care OÜ is part of the Mölnlycke Health Care AB group. Mölnlycke Health Care AB is one of the leading manufacturers of single-use surgical linen and wound care products in the world. The headquarters of Mölnlycke Health Care AB is located in Gothenburg, Sweden. The company employs 8775 people worldwide and has factories in Belgium, the Czech Republic, Finland, France, Malaysia, Thailand, Poland, England and the United States. Mölnlycke

Health Care AB operates in 100 countries.

The company has a representative office in Latvia. In 2022, we closed the representative office in Russia.

For years, the Estonian Health Insurance Fund has been compensating for the acquisition of several products and in 2021 the list of compensable products expanded. In 2021, we successfully negotiated with the Estonian Health Insurance Fund to add Exufiber, Exufiber Ag+ and Mepilex Border Flex products to the list of compensable products.

In Estonia and Latvia, Mölnlycke Health Care OÜ participates in public procurements and supplies are made directly to major hospitals.

In 2022, we continued with customer-specific surgical sets and wound care products produced with Safetac technology. Both concepts can be considered one of the main directions of development in the world in the field of surgical linen and wound care products. The interest of hospitals in customer-specific surgical sets is noteworthy, as their introduction helps to increase the efficiency of operating rooms. Since 2019, the Company has been selling laparoscopic instruments in Estonia. In 2021, we launched a new wound care product Granudacyn. No new products came to the market in 2022.

In 2022, the number of surgeries in hospitals began to increase and the sales of customer-specific packages, surgical drapes and wound care products also increased. Due to the war in Ukraine, hospitals began to create crisis warehouses, which also included our products. The turnover of Mölnlycke Health Care OÜ increased by 18% in 2022 compared to 2021.

Forecast 2023 In 2023, we expect the number of surgeries in Estonia and Latvia to return to the pre-Covid level of 2019, as the waiting list for surgeries has

grown due to Covid-19, especially growth is expected in day surgery. We have set ourselves the goal of increasing the turnover of surgical linen and wound care products by 8%. Greater attention in the field of wound care products is directed to innovative wound care products for the treatment and prevention of bedsores, such as Mepilex Border Flex, Granudacyn and Avance Solo. An increase in the demand for wound care products is expected as patients with chronic ulcers could not get treatment in healthcare institutions in 2020 and also in the beginning of 2021.

We plan to participate in public procurements and increase direct deliveries to our key clients in both Estonia and Latvia, offering them additional value in the form of services and training.

The number of employees in 2022 was 9 (2021: 10). In 2022, a regular change of board members took place in the company. One of the three board members is paid. In 2023, there are no plans to recruit new employees, as some of the company's financial activities were transferred to the Global

Service Center in Sweden.

Ratio analysis 2022 2021

Short-term debt coverage ratio, times 4.94 4.57

Liquidity ratio, times 1.38 0.74

Liquidity level 15% 10%

Working capital level 42% 47%

Asset turnover ratio 1.88 1.67

Inventory turnover ratio 1.89 1.67

Net profit amount 3% 2%