Decisions taken in the Extraordinary General Meeting of Shareholders of LITGRID AB on 7 September 2018

The following decisions were adopted in the Extraordinary General Meeting of Shareholders of LITGRID AB (company code 302564383, registered office at A. Juozapavičiaus g. 13, Vilnius) on 7 September 2018:

1. Revocation of the Board member of LITGRID AB

Decision:

1.1. To revoke Vidmantas Grušas from the Board of LITGRID AB.

2. Election of two Board members of LITGRID AB

Decision:

2.1 To elect the candidate who has received largest number of shareholders’ votes – Algirdas Juozaponis, Director for Finance of UAB EPSO-G, to the position of a Board member of LITGRID AB as nominated by the parent company, UAB EPSO-G, for the term until the end of the term in office of the current Board of LITGRID AB.

2.2. To elect the candidate who has received largest number of shareholders’ votes – Šarūnas Nedzinskas, Head of Banking Portfolios at UAB Intrum Lietuva, to the position of an independent Board member of LITGRID AB for the term until the end of the term in office of the current Board of LITGRID AB.

3. Remuneration of the newly elected Board members of LITGRID AB

Decision:

3.1. In respect of the newly elected independent Board member, to set an hourly rate of remuneration for the activities on the Board of LITGRID AB at EUR 50 (fifty) (before taxes) up to the maximum amount of EUR 1,000 (one thousand) (before taxes), and in case this Board member is appointed Chairman of the Board, to set the maximum monthly salary of EUR 1,300 (one thousand three hundred) euros per month.

3.2. Not to award any remuneration to the newly elected member of the Board nominated by the parent company, UAB EPSO-G.

3.3. To authorise Daivis Virbickas, Director General of LITGRID AB, not later than within 5 (five) days from the date of adoption of this decision to sign for and on behalf of LITGRID AB agreements with the newly elected Board members regarding their activities on the Board of LITGRID AB in accordance with standard terms of agreements with Board members and independent Board members regarding their activities on the Board LITGRID AB as approved by the general meeting of shareholders of LITGRID AB.

Additional information about the elected Board members of LITGRID AB:

Algirdas Juozaponis, Finance Director at UAB EPSO-G.

Professional career: Economist and Senior Economist at AB Rytų Skirstomieji Tinklai in 2005-2008; Financial Analyst at LEO LT, AB in 2008-2010; Product Manager at Energijos Tiekimas, UAB in 2010-2011; General Manager, member of the board (2012-2013) of Energijos Tiekimas, UAB in 2011-2015; member of the board of GETON Energy SIA (Latvia) and GETON Energy OÜ (Estonia) in 2013-2015; Finance Director, member of the board (2016-2018) of UAB EPSO-G from 2015 to date. Member of the Council of the National Lithuanian Electricity Association in 2014-2015.

Education:  Graduated from Vilnius University with a bachelor’s degree in economics in 2005 and master’s degree in 2007 (banking programme).

A. Juozaponis holds no shares of LITGRID AB.

Šarūnas Nedzinskas, independent member of the Board of LITGRID AB, professional of corporate governance.

Professional career: Member of the Board, Head of Credit Risk management and Corporate Customers at DNB (at that time, AB Lietuvos žemės ūkio bankas) in 1994-1997; Deputy Chairperson of the Board, Head of Credit Risk Management at AB bank Hermis in 1998-1999; Head of Business Development Department at SEB AB bank in 2000-2003; Member of the Board, Chief Underwriter and Head of Corporate Customers at Lietuvos Draudimas AB in 2004-2007; Chairman of the Board at Finasta AB bank in 2007-2008; Member of the Board, Executive Vice President, Retail banking at DNB bank in 2008-2016. Head of Banking Portfolios, Baltics at UAB Intrum Lietuva from 2016 to date.

Education: PHD from ISM University of Management and Economics strategic management in 2013, EMBA from BMI in 2007, graduated from Vilnius University with MBA in economics (Industry Planning and Management) in 1993.

Šarūnas Nedzinskas holds no shares of LITGRID AB.

The term of office of the Board of LITGRID AB will be until 29 July 2020, other Board members: R. Štilinis (Chairman), Nemunas Biknius and Domas Sidaravičius.