Notice on the convened Extraordinary General Meeting of Shareholders of AB Klaipedos nafta

We hereby inform you that on the initiative and by the decision of the Board of AB Klaipedos nafta, legal entity code 110648893, registered address at Buriu str. 19, Klaipeda (hereinafter - the Company), an Extraordinary General Meeting of Shareholders of the Company was convened on 18 August 2020 at 1:00 p.m. The meeting was held in the registered office of the Company at Buriu str. 19, Klaipeda.

Extraordinary General Meeting of Shareholders of the Company, held on 18 August 2020, adopted the following resolutions:

Adopted decisions:

1. Regarding the reduction of authorized capital of AB Klaipedos nafta.

1.1   „To reduce the authorized capital of AB Klaipedos nafta from 110 505 193,97 EUR (one hundred and ten million five hundred and five thousand one hundred ninety three euros, 97 euro cents) to 110 315 009,65 EUR (one hundred and ten million three hundred and fifteen thousand nine euros, 65 euro cents) by cancelling and declaring to be invalid 655 808 (six hundred and fifty five thousand eight hundred and eight) units of AB Klaipedos nafta owned ordinary registered shares, which each nominal value EUR 0.29 (29 euro cents), ISIN code LT0000111650.

1.2    The purpose of the reduction of the authorized capital - to cancel own shares acquired by AB Klaipedos nafta.

1.3   To reduce AB Klaipedos nafta audited retained earnings of the year 2019 by 77 081,66 EUR (seventy seven thousand eighty one euros, 66 cents). Retained earnings are reduced by the difference between 2 January 2019 at the time of AB Nasdaq Vilnius stock exchange official offering acquired shares and the nominal values of the subscribed shares or 0,12 EUR (12 euro cents) for each share acquired and not transferred share.

1.4   To determine, that the decisions stipulated in item1 shall come into force after the Ministry of Finance of the Republic of Lithuania will issue a permit to AB Klaipedos nafta to reduce the authorized capital in accordance with Article 3 paragraph 13 item 2 of the Law on Public Debt of the Republic of Lithuania.”

2. Regarding the amendment of the Articles of Association of AB Klaipedos nafta.

2.1   “To amend the Articles of Association of AB Klaipedos nafta, presenting them as a new wording (attached).

2.2   To authorize (with the right to delegate the authority) the Manager of AB Klaipedos nafta to sign the new wording of the Articles of Association of AB Klaipedos nafta, to present it for notary approval, to present it for registration with the Registry of Legal Entities and to perform other related actions”.

2.3   To determine, that the decisions stipulated in item 2 shall come into force after the Ministry of Finance of the Republic of Lithuania will issue a permit to AB Klaipedos nafta to reduce the authorized capital in accordance with Article 3 paragraph 13 item 2 of the Law on Public Debt of the Republic of Lithuania.”

ATTACHED: New wording of Articles of Association of AB Klaipedos nafta.

Jonas Lenkšas, Chief Financial Officer, tel.:

Attachment