Investments - Estonia

PRB monitoring

• EANS planned a total asset value for new investments in RP4 of 31.8M€2022, of which 55.2% relates to new major investments. EANS planned 1 new major investment for RP4, which has started.

• In 2025, EANS overspent +0.3M€2022 (+321.4%) in costs related to new major investments. This is mainly due to the updated payment schedule and earlier cost recognition.

• According to the reporting tables, EANS overspent +0.6M€2022 (+15.7%) in costs related to investments in 2025.

• EANS reported 0.4M€2022 in funding from Union assistance programmes in 2025.

Value of the assets for New Investments included in the Performance Plan Estonia | EANS and comparison with Union-wide

Determined and additional asset value by investment category

Total value of the asset for new investments (M€2022)	31.84	% of total
New major investments (above 5M€ each)	17.56	55%
Included in the performance plan	17.56	55%
Additional	0.00	0%
Other new investments (below 5M€ each)	14.28	45%

EANS asset value of new investments compared to Union-wide (%)

0.7%

Determined asset value: en route and terminal

Total value of the asset for new major investments (M€2022)1	17.56	% of total
En route	17.56	100%
Terminal	0.00	0%
1 For investments where the allocation has not been clearly provided, an allocation has been assumed based on available information.

Determined asset value by type of investment

New ATM system	17.56
Overhaul of existing ATM system	0.00
Other ATM	0.00
CNS	0.00
Infrastructure	0.00
Ancillary	0.00
Other	0.00
Unknown	0.00
1 When summing the assets for new major investments by investment type, the total may differ from the overall asset value for new major investments, as some investments have been categorised under multiple investment types.

Costs related to investments included in the Performance Plan Estonia | EANS

New and existing investments

Determined costs	2025D	2026D	2027D	2028D	2029D	RP4
Total costs of new and existing investments (M€2022)	3.69	4.20	4.88	4.90	5.25	22.91
New major investments from RP4	0.11	0.19	0.43	0.66	1.14	2.53
Other new investments from RP4	0.34	0.96	1.58	2.08	2.33	7.30
Existing investments from previous RPs	3.24	3.04	2.86	2.16	1.78	13.08

Actual costs	2025A	2026A	2027A	2028A	2029A	RP4
Total costs of new and existing investments (M€2022)	4.27	NA	NA	NA	NA	4.27
New major investments from RP4	0.46	NA	NA	NA	NA	0.46
Other new investments from RP4	0.54	NA	NA	NA	NA	0.54
Existing investments from previous RPs	3.27	NA	NA	NA	NA	3.27

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	0.58	NA	NA	NA	NA	NA
New major investments from RP4	0.35	NA	NA	NA	NA	NA
% change of actual with respect to determined	+321%	NA	NA	NA	NA	NA
Other new investments from RP4	0.21	NA	NA	NA	NA	NA
% change of actual with respect to determined	+61%	NA	NA	NA	NA	NA
Existing investments from previous RPs	0.02	NA	NA	NA	NA	NA
% change of actual with respect to determined	+1%	NA	NA	NA	NA	NA

Costs of investments by nature - En route

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	3.69	4.20	4.88	4.90	5.25	22.91
Depreciation	2.54	3.02	3.53	3.48	3.54	16.12
Cost of capital	1.14	1.18	1.35	1.42	1.71	6.80
Cost of leasing	0.00	0.00	0.00	0.00	0.00	0.00

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	4.27	NA	NA	NA	NA	4.27
Depreciation	2.90	NA	NA	NA	NA	2.90
Cost of capital	1.36	NA	NA	NA	NA	1.36
Cost of leasing	0.00	NA	NA	NA	NA	0.00

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	0.58	NA	NA	NA	NA	NA
Depreciation	0.36	NA	NA	NA	NA	NA
Cost of capital	0.22	NA	NA	NA	NA	NA
Cost of leasing	0.00	NA	NA	NA	NA	NA

Costs by new major investments

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of major investments in RP4 (M€2022)	0.11	0.19	0.43	0.66	1.14	2.53
New ATM system and related investments	0.11	0.19	0.43	0.66	1.14	2.53

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of major investments in RP4 (M€2022)	0.46	NA	NA	NA	NA	0.46
New ATM system and related investments	0.46	NA	NA	NA	NA	0.46

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	0.35	NA	NA	NA	NA	NA
New ATM system and related investments	0.35	NA	NA	NA	NA	NA

Costs by Common Project One (CP1) ATM Functionality (AF)

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	5.63	67.52	76.44	174.52	311.52	635.62
CP1-AF1	0.00	0.00	0.00	0.00	0.00	0.00
CP1-AF2	0.00	0.00	0.00	0.00	0.00	0.00
CP1-AF3	0.00	0.00	0.00	0.00	0.00	0.00
CP1-AF4	0.00	0.00	0.00	0.00	0.00	0.00
CP1-AF5	5.63	67.52	67.52	67.52	204.52	412.70
CP1-AF6	0.00	0.00	8.92	107.00	107.00	222.92

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	13.80	NA	NA	NA	NA	13.80
CP1-AF1	0.00	NA	NA	NA	NA	0.00
CP1-AF2	0.00	NA	NA	NA	NA	0.00
CP1-AF3	0.00	NA	NA	NA	NA	0.00
CP1-AF4	0.00	NA	NA	NA	NA	0.00
CP1-AF5	13.80	NA	NA	NA	NA	13.80
CP1-AF6	0.00	NA	NA	NA	NA	0.00

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	8.17	NA	NA	NA	NA	NA
CP1-AF1	0.00	NA	NA	NA	NA	NA
CP1-AF2	0.00	NA	NA	NA	NA	NA
CP1-AF3	0.00	NA	NA	NA	NA	NA
CP1-AF4	0.00	NA	NA	NA	NA	NA
CP1-AF5	8.17	NA	NA	NA	NA	NA
CP1-AF6	0.00	NA	NA	NA	NA	NA

Costs by Strategic Deployment Objective (SDO)

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 1	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 2	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 3	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 4	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 5	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 6	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 7	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 8	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 9	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 10	0.00	0.00	0.00	0.00	0.00	0.00

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	73.88	NA	NA	NA	NA	73.88
Total costs SDO – 1	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 2	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 3	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 4	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 5	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 6	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 7	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 8	54.56	NA	NA	NA	NA	54.56
Total costs SDO – 9	19.32	NA	NA	NA	NA	19.32
Total costs SDO – 10	0.00	NA	NA	NA	NA	0.00

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	73.88	NA	NA	NA	NA	NA
Total costs SDO – 1	0.00	NA	NA	NA	NA	NA
Total costs SDO – 2	0.00	NA	NA	NA	NA	NA
Total costs SDO – 3	0.00	NA	NA	NA	NA	NA
Total costs SDO – 4	0.00	NA	NA	NA	NA	NA
Total costs SDO – 5	0.00	NA	NA	NA	NA	NA
Total costs SDO – 6	0.00	NA	NA	NA	NA	NA
Total costs SDO – 7	0.00	NA	NA	NA	NA	NA
Total costs SDO – 8	54.56	NA	NA	NA	NA	NA
Total costs SDO – 9	19.32	NA	NA	NA	NA	NA
Total costs SDO – 10	0.00	NA	NA	NA	NA	NA

Expected benefit and impact per new major investment Estonia | EANS

New major investments	SES mandated	Partnership
New ATM system and related investments	X	X

Public funding granted for total CAPEX (CEF/TEN-T)