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's activity report 2022

Vestman, a company that began its mission in 1995, is dedicated to providing enduring value to forests and farmland. This is achieved through responsible and environmentally friendly management, preserving and enhancing the diversity of nature and species. By taking the utmost care of the land we use, we are also taking care of the Earth, the climate, and ourselves. The activities and investments of Vestman Energy and the companies within the group (hereafter referred to as the 'group') encompass forestry, agriculture, and the energy sector. By investing in start-ups, we aim to contribute to solutions that help reduce humanity's ecological footprint. Forestry is a significant part of our operations. The forest represents raw material and energy, and its importance as a resource in the economy is growing. It is one of the most crucial ecosystems and serves as the 'lungs' of humanity. Different tree species have varying abilities to bind CO2, and this ability changes at different stages of a tree's life. For the long-term positive impact on the climate, it is necessary to grow forests in the right composition and with the right techniques. Vestman's forestry follows principles that help the forest grow to its maximum potential as a CO2 binding and diverse ecosystem. In agriculture, we practice organic or ecological farming, a nature-conserving production method based on balanced nutrient cycling. Organic farming binds carbon into the soil and uses less energy. To promote this, we provide better rental conditions for farmers who maintain a positive humus balance and engage in organic production. In the renewable energy sector, we operate solar parks in Estonia, which have been built on agricultural and forest land waste. We are developing wind, solar, and hybrid parks in Estonia and Latvia. We are piloting various renewable energy production and storage solutions. The renewable energy parks under construction and in operation increase energy security through distributed production, benefit local communities, and lower electricity prices. Our financing goal is to promote the preservation of forest and farmland ownership by increasing the financial capacity of landowners. We believe in responsible and green business - we believe that companies that follow good societal practices and green principles have future potential. We consider our carbon footprint in our activities and find it important that our partners follow similar principles. To assess the sustainability of our business, Vestman participates in the Responsible Business Index - in 2022, we achieved the gold level. As of the reporting date, the group consists of 19 companies, including Vestman Energy, the parent company, and several subsidiaries. The group's structure underwent and is expected to undergo changes in the next reporting year. For example, on February 10, 2022, the group's subsidiaries, Metsamaahalduse AS (the merging company) and AS Vestman Forest Fund (the merged company), signed a merger agreement. The merger took effect on April 22, 2022, and the transactions of the merged company are considered to have been made from the account of the merging company as of January 1, 2022. In conclusion, Vestman is a company that is deeply committed to sustainable practices in forestry, agriculture, and energy. We believe in the power of responsible business practices and are dedicated to reducing our ecological footprint. We are proud of our achievements and look forward to continuing our work in the future.