Dovre receives a payment claim from Vinliden Vindkraft AB

Dovre Group Oyj ("Dovre") has received a payment claim from Vinliden Vindkraft AB ("Vinliden") related to Dovre's own guarantee. The guarantee was issued as security for the completion of the Vinliden wind farm project, in which Suvic AB acted as the contractor. Suvic AB, a subsidiary of Dovre’s subsidiary Suvic Oy, has been declared bankrupt in Sweden. Suvic Oy has also been declared bankrupt.

The maximum amount of Dovre's absolute guarantee liability is the contract price, i.e., circa EUR 12 million, and the alternative is to take on the contract itself. Dovre estimates the contract to be almost complete.

Vinliden requests that Dovre acknowledge the liabilities specified in the guarantee by January 21, 2026.

The contract work is suspended until May in accordance with Swedish legislation, as the contract is located in a reindeer herding winter conservation area. The costs of completing the work or the grounds for them have not been clarified, and Vinliden does not present its views on the costs. No joint inspection of the site has been arranged between Suvic AB's bankruptcy estate and the client.

The costs of completing the work are therefore unknown. Dovre disputes the claim as unfounded and premature.

Dovre is insolvent and is investigating the possibility of applying for corporate restructuring proceedings.