0E96 Enedo Plc

Correction Release:        Enedo Plc's Annual Report, Corporate Governance Statement and Remuneration Statement 2021 published

ENEDO OYJ                Stock Exchange Release        8.4.2022 at 17:00                

Correction Release:        Enedo Plc's Annual Report, Corporate Governance Statement and Remuneration Statement 2021 published

Correction:                    Company’s and Auditor’s statements on going concern principle added to the stock exchange release.

Uncertainties about securing sufficient long-term funding, continuing shortage of components and its impact on business, and the successful completion of the turnaround program are such uncertainties that may give rise to significant doubts about the entity’s ability to continue as a going concern. However, due to the strong order book and the reduction in costs already decided as part of the turnaround program, the company considered it justified to prepare financial statements as a going concern.

The company's auditor has issued an auditor's report dated 7 April 2022 for the financial period 1 January to 31 December 2021. The auditor's report contains additional information on material uncertainties related to the continuity of the Company's operations as follows:

Uncertainties about securing sufficient long-term funding, continuing shortage of components and its impact on business, and the successful completion of the turnaround program are such material uncertainties that may give rise to significant doubts about the entity’s ability to continue as a going concern. In our opinion, the abovementioned events and circumstances involve such material uncertainty that may cast significant doubt upon Enedo Plc and the Group to continue as a going concern. Our opinion has not been qualified by this matter.

ENEDO PLC

Mikael Fryklund

President and CEO

For further information please contact Mr. Mikael Fryklund, CEO, tel. +358 40 500 6864.

DISTRIBUTION

Nasdaq Helsinki Ltd

Principal media

Enedo

Enedo is a European designer and producer of high-quality electronic power supplies and systems for critical equipment even in the most demanding environments. Enedo´s mission is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo´s three main product categories are Led Drivers, Power supplies and Power Systems. In 2021 the group´s revenue was EUR 36,4 million. Enedo has 330 employees, and its main functions are located in Finland, Italy, Tunisia and USA. The group´s head office is in Finland and parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.

www.enedopower.com