Long-term financial targets and dividend policy

Growth: Increase of annual revenue to over EUR 250 million.

Profitability: Adjusted operating profit (EBIT) margin -% over 14 per cent.

Capital structure: Achieving a capital structure suitable for the Company’s strategy, targets and risk profile by maintaining a strong balance sheet.

Dividend policy: The Company aims to distribute annual dividends, while keeping growth as the Company’s most important target.

Guidance for 2022

As released on 10 May 2022, Lamor estimates its turnover to be at least EUR 120 million in 2022.
Adjusted EBIT is estimated to be at least EUR 14 million.

Lamor has a strong order backlog for 2022. Since a significant part of the revenue is generated by
large service project deliveries, any major, unpredictable delay in the project progress would have a
negative impact on revenue and profit for 2022.

Lamor closely follows how the Russian invasion of Ukraine is affecting the company’s operating
environment. Due to the war, Lamor has ceased the sales activities of the products and services in
Russia. War-related global cost inflation as well as the shortage of raw materials and components
are having an effect also on Lamor’s business. Lamor will continue to monitor the situation carefully.

In addition, any potential virus variant of the COVID-19 could have a negative impact on Lamor’s
revenue and result in 2022 by impacting Lamor’s capabilities to deliver projects efficiently.