LITGRID - Notification on material event

Regarding the 330 kV electricity power line Vilnius-Neris design and contract agreement

On 2nd  May 2022 the extraordinary general meeting of shareholders of LITGRID AB (company code 302564383, registered office address Karlo Gustavo Emilio Manerheimo str. 8, Vilnius) approved the 330 kV EPL Vilnius-Neris design and contract agreement with Žilinskis ir Co, UAB company code 304317232.
The contractor refused to sign the contract on 2nd  May 2022 because of significant changes in the market for the supply of the construction materials, caused  by the continious rise in prices for the construction materials, and the war in the Ukraine.
LITGRID AB finished the public procurement on 5th  May 2022 and will announce a new tender for the design and construction of the 330 kV EPL Vilnius-Neris.