Changes in the management of Hepsor AS

Hepsor AS Registered Shs

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The Supervisory Board of Hepsor AS has elected Martti Krass, the current Latvian Country Manager, as a new member of the Management Board of Hepsor AS (hereinafter Hepsor), who will take office on 1 August 2025 with a five-year mandate. The mandate of the current Chairman of the Management Board, Henri Laks, will expire on 1 August 2025, when he will become a member of the Supervisory Board of Hepsor, in accordance with the resolution of the General Meeting of Hepsor shareholders held on 21 May 2025.

Martti Krass has been working at Hepsor since 2014 – first as an engineer and project manager, then as a Latvian Country Manager since 2017. Krass holds a Master's degree in civil engineering from TalTech.

The new Chairman holds 1 288 Hepsor shares and a 20% stake in Hepsor's subsidiary Hepsor Latvia OÜ.

"The foundations are in place for Hepsor's future development and growth – I am taking over a company that is well capitalised, ambitious and has great potential in its team," said Martti Krass. "Our future goal is clear, we will focus on increasing profitability through increased efficiency, stronger teamwork and a focus on client expectations. We will continue to build confidence in domestic markets."

Andres Pärloja, Chairman of the Supervisory Board of Hepsor, expressed confidence that under the leadership of Martti Krass, the company will reach the next level of development: "Martti knows Hepsor inside out – he has been with us since the very first development projects and has played an important role in the company's growth. He is a strategic leader who is able to maintain focus on what is important and who is able to lead the team to results," said the Chairman. "Today, the company has a strong foundation, which was created under the leadership of the previous Chairman Henri Laks. We are grateful to Henri for what he has done and are pleased that his contribution to the long-term development of Hepsor will continue on the Supervisory Board."

Hepsor will continue its planned activities in its home markets in Estonia and Latvia, focusing on sustainable development projects and improving the quality of living environment. Work also continues on the company's investments in Canada.

Hepsor AS (www.hepsor.ee) is a developer of residential and commercial real estate. The Group operates in Estonia, Latvia and Canada. In fourteen years of operation, we have created 2 076 homes and nearly 36 300 m² of commercial space. Hepsor is the first developer in the Baltic States to implement a number of innovative engineering solutions that will make the buildings it builds more energy efficient and thus more environmentally friendly. The company has a portfolio of 25 development projects with a total area of 172 800 m².