LITGRID - Notification on material event

Concerning the opinion of the Audit Committee

Lithuanian electricity transmission operator LITGRID AB (company code 302564383, registered office address Karlo Emilio Gustavo Manerheimo st. 8, Vilnius, Lithuania), informs that on 3^rd  February 2022 the opinion of the Audit Committee of the holding company UAB “EPSO-G” was received on the planned transactions with related party AB “Ignitis gamyba”:

• Additional agreement to the contract for the purchase and sale of the isolated electricity system work service on the preparation for the provision of the isolated work service

On 3^rd February 2022, the Audit Committee of UAB “EPSO-G” considered the Transactions with related party and adopted the following decisions by means of a survey:

After evaluating all the submitted information of LITGRID AB, the Audit Committee of UAB “EPSO-G”, in accordance with Article 37² of the Law on Companies of the Republic of Lithuania, gives an opinion on the planned Isolated Operation Service Agreement:

1. The additional agreement is in line with market conditions, since the costs incurred by IG will be calculated same as it would be for other unrelated parties, i.e., the difference between balancing energy price and the electricity price on the exchange market. Balancing energy prices are specified in the Isolated Operation Service Agreement.
2. The additional agreement is concluded in accordance with the requirements of the legal acts of the Republic of Lithuania, ensuring the reliable and stable operation of the electricity system of the Republic of Lithuania, is fair and reasonable with respect to all shareholders of LITGRID AB taking into account the objective necessity of concluding the additional agreement.

The decision provided in in paragraph 1 – the opinion of the Audit Committee of UAB “EPSO-G” – will enter into force when the amendment to the order of the Ministry of Energy of the Republic of Lithuania “Regarding the 2012-06-08 order of the Minister of Energy No. 1-116 amendment” , dated 31-01-2022, project No. Nr. 22-1154 will be issued.

The individual authorized by LITGRID AB to provide additional information:
Jurga Eivaitė
Communications project manager
phone: +370 613 19977
e-mail: jurga.eivaite@litgrid.eu