LITGRID - Notification on material event

Concerning the opinion of the Audit Committee

Lithuanian electricity transmission operator LITGRID AB (business ID 302564383, registered office address Viršuliškių skg. 99B 13, Vilnius, Lithuania) informs that on 22 February 2021 the opinion of the Audit Committee of the parent company UAB EPSO-G (hereinafter - EPSO-G) was received regarding the intended management holding services purchase transaction with the related party EPSO-G.

On 22 February 2021, the Audit Committee of EPSO-G considered the Transaction and issued an opinion:

After assessing all the information provided by LITGRID AB (hereinafter - LITGRID), the Audit Committee of EPSO-G, in accordance with Article 37 (2) of the Law on Companies of the Republic of Lithuania, provides an opinion on the intended management holding services purchase transaction of LITGRID with EPSO-G (hereinafter - Transaction):

1. The conclusion of the Transaction is in line with market conditions (services will be provided by the company that has won the tender and the applicable expert hourly rates fall within the arm's length range);
2. The Transaction is fair and reasonable to LITGRID shareholders who are not parties to the Transaction, as it will provide services aimed at optimizing operations and increasing efficiency through the rational use of resources managed by the EPSO-G group of companies.

The Board of LITGRID will decide on the conclusion of the Transaction on 26 February 2021.

The individual authorized by LITGRID AB to provide additional information on the material event:
Jurga Eivaitė
Communications Manager
tel. +370 613 19977 e-mail: jurga.eivaite@litgrid.eu