Panevezio Statybos Trestas - Notification on material event

Draft Resolutions of Extraordinary General Meeting of Shareholders

1. Selection of an audit company and pricing of audit services.

1.1. To select KPMG Baltics UAB as an auditor to carry out the audit of the
financial statement packages and annual reports of Panevezio statybos trestas
AB and the companies of Panevezio statybos trestas AB Group for the year 2016.
To pay the amount not exceeding 42 700 (forty two thousand seven hundred)
Euros, VAT excluded, for the audit/review of the financial statement packages
and annual reports of all companies of Panevezio statybos trestas AB Group for
the year 2016, except the companies of Panevezio statybos trestas AB Group
located in Latvia, Poland and Sweden, Territorija OOO located in Vologda Region
and Baltlitstroj OOO located in Kaliningrad Region, both in Russia. To pay the
amount not exceeding 27 100 (twenty seven thousand one hundred) Euros, VAT
excluded, for the audit of the financial statements and annual report of
Panevezio statybos trestas AB for the year 2016. 

1.2. The auditors for carrying out the audit in the companies of Panevezio
statybos trestas AB Group located outside the European Union following the
legal acts regulating accounting and audits in the countries thereof, are to be
selected at the discretion of the General Meetings of Shareholders at these
companies considering the possibilities of these audit companies at the same
time to carry out the review/audit of the financial statement package of the
relevant company belonging to Panevezio statybos trestas AB Group for
consolidation purposes. Payment for these audit services is not included in the
payment for the audit of the financial statement packages and annual reports of
the companies of Panevezio statybos trestas AB Group, specified in item 1.1.
hereinabove. 

1.3.To provide for the possibility in the companies of Panevezio statybos
trestas AB Group, Baltlitstroj OOO and Territorija OOO, located in Russia, to
select an auditor to carry out the audit following the legal acts regulating
audit and accounting at the relevant country at the discretion of the General
Meeting of Shareholders of the companies thereof and the review of the
financial statement package for consolidation purposes/audit for consolidation
purposes will be carried out by KPMG Baltics UAB. In these cases the payment
for the services thereof will be added to the amounts specified in item 1.1.
hereinabove. 

1.4. To delegate the Managing Director of Panevėžio statybos trestas AB:

1.4.1. Upon a written consent by Arturas Bucas, to sign the contract (and/or
its appendixes) for audit carrying out the audit of the financial statement
packages and annual reports for the year 2016, any integral parts of such
contract, amendments of, additions to the contract, hand-over statements and
any other documents related to the proper implementation of the decision; 

1.4.2. To initiate the General Meetings of Shareholders at the companies of
Panevezio statybos trestas AB Group, by means of participation at the meetings
thereof to ensure selection of the relevant auditor and following the procedure
defined in item 1.5. hereinbelow by these companies and their subsidiary
companies. 

1.5. The contracts for the provision of the audit/review services at the
companies of Panevezio statybos trestas AB Group shall be signed by the
Directors of the companies thereof upon a written consent by Arturas Bucas
provided the relevant audit processes are related to the audit of the financial
statements of Panevezio statybos trestas AB. The copies of the contracts and
audit reports shall be provided to the parent companies within 7 (seven) days
from their signature. 

For more information contact:

Dalius Gesevicius

Managing Director

Panevezio statybos trestas AB

Phone: (+370 45) 505 503