TEO LT, AB - Notification on material event

Hannu-Matti Mäkinen elected to the Audit Committee and members of the Remuneration Committee are re-elected

On 19 July 2016, the Board of TEO LT, AB (hereinafter “Teo” or “the Company”)
elected member of the Board Hannu-Matti Mäkinen as the member of the Company’s
Audit Committee for the current term of the Audit Committee Board (but in any
case not longer than until the term of his membership in the Board).
Hannu-Matti Mäkinen was elected to the Board of Teo on 26 April 2016 following
the resignation of the member of the Board Tiia Tuovinen, who also was a member
of the Audit Committee. Hannu-Matti Mäkinen is General Counsel Region Europe
and Head of Legal of Region Europe at Telia Company AB (Sweden). Member of the
Board Stefan Block (Chairman of the Committee) and independent member of the
Board Inga Skisaker are members of the Audit Committee too. 

The Board also re-elected the following members of the Board as members of the
Remuneration Committee for the new term of one year (but in any case not longer
than until their term of the membership in the Board): Robert Andersson
(Chairman of the Board), Claes Nycander and Rolandas Viršilas (independent
member of the Board). 




         Giedrė Kaminskaitė-Salters,
         Head of Legal,
         tel. +370 5 236 7715