Volta SKAI OÜ Progress Report of the Development Project as of 18th February 2026

Bonds

Volta SKAI bonds are a secured bond programme of 30 million euros to finance the Volta SKAI development. In the second half of 2025, the first two series of the programme were carried out, with the total volume of 12 million euros. The nominal value of the bonds is 1,000 euros and the coupon interest rate is 10%. Interest is paid quarterly: on 1 April, 1 July, 1 September and 1 January. The maturity date of the bonds is 1 October 2027. Since December 2025, Volta SKAI bonds are traded on the Nasdaq Baltic First North market. More detailed terms and conditions of the bonds and additional information are available at investor.endover.ee.

Overview of the sales process

The second half of 2025 was devoted in full to preparing for the launch of presales. All sales materials were prepared, including the necessary presentations. The sales team with sufficient capacity was trained and got ready to meet the planned presales volumes.

At the beginning of October, the non-public presales was launched. On 23 January 2026, the public sale has also started and the price list is available on the company’s website voltaskai.endover.ee.

Professional preparation made it possible to offer high-quality materials when introducing and presenting the product and to meet presales expectations.

As at the date of publication of the report, 920 m2, i.e. 12% of the total area to be sold in the first tower, are covered by contracts of sale under the law of obligations. Pre-sales account for 12% of the estimated sales revenue of the project. The deals include both smaller investment apartments and large units intended as homes, which shows that the product appeals to a broad target group. The forecast sales period of the project is 5 years.

Planned sales activities for 2026:

• Informing market participants about the project and expanding the pool of interested prospects. Cooperation and presentations with various brokerage firms.
• Completion of a dedicated Endover sales lounge to actively showcase Volta SKAI.
• Measuring and optimizing public sales activities to stay on track with targets.
• Marketing activities through content creation
• Investor events and customer days to reach a wider target audience

Overview of construction

In the second half of 2025, building design documentation was prepared and the site was prepared for construction activities. In the last week of November 2025, excavation work began, marking the start of construction activities.

The action plan for the first half of 2026 is as follows:

1. completion of the basement excavation and pile work,
2. construction of underground basement structures,
3. construction of monolithic structures of floors -2 and -1,
4. construction of monolithic and prefabricated structures of floors 1–3.

As at the publication of the report, we are on schedule with all construction works, despite the severe cold.

The first 12-storey tower of Volta SKAI will be completed according to the construction schedule in 2027.

Summary progress of the Development Project, including on timing and schedule, sales, works done, costs and projections

The project is progressing as planned and remains on schedule and within budget for activities and costs.