Commentary on Publicly Announced Information about Former Executives of AB Grigeo Klaipėda

Responding to the information that appeared in public on 10 September 2019, we hereby issue this official statement about allegations made against Vidas Beržonskis, former General Manager of AB Grigeo Klaipėda, and Jonas Garalis, former Production Director of AB Grigeo Klaipėda, about possible squandering of assets.

AB Grigeo confirms the publicly announced information about intentions on the part of AB Grigeo Klaipėda to launch a pre-trial investigation into activities of Vidas Beržonskis and Jonas Garalis, former employees of AB Grigeo Klaipėda, involving possible squandering of high-value assets of AB Grigeo Klaipėda by entering into and executing of economically unjustified contracts that were incompatible with the interests of the company and interfering with its profitable business. No final decision regarding the pre-trial investigation has yet been taken, and the complaint filed by AB Grigeo Klaipėda is expected to be examined by the Klaipėda Regional Court in the near future.

The aforementioned alleged illegal activities have been ceased as Vidas Beržonskis, former General Manager, and Jonas Garalis, former Production Director, are no longer employed by AB Grigeo Klaipėda.

In the opinion of AB Grigeo, this situation will have no significant effect on the activities of AB Grigeo Group or its performance.

Gintautas Pangonis,

President of AB Grigeo