Decision of the Management Board of Šiaulių Bankas AB on acquisition of own shares

On 9 October 2024, the Management Board of Šiaulių Bankas AB (hereinafter - the Bank), implementing the decision of the Bank's Ordinary General Meeting of Shareholders (29 March 2024) on the acquisition of the Bank's own shares decided to buy back 6,000,000 shares of the Bank (ISIN code LT0000102253):

• Up to 4,254,886 shares, for reduction of the Bank capital;
• Up to 1,745,114 shares, for employees of Šiaulių Bankas Group as part of the deferred variable remuneration.

Shares will be purchased on the Nasdaq Vilnius tender offer market under the following terms:

• Share purchase starts on 10 October 2024;
• Share purchase ends on 18 October 2024;
• The date of settlement of the tender offer is on 21 October 2024;
• Maximum number of shares to be acquired – 6,000,000;
• The total maximum value of the shares to be acquired is 4.98 million euros;
• Maximum purchase price is set at EUR 0.83 per share;
• The acquisition price will be determined using a Dutch auction, meaning all transactions will be carried out at a single price. If fewer shares are offered in the auction than the amount to be purchased, the transactions will occur at the maximum price. If more shares are offered, the orders will be executed at the lowest price at which the full required amount can be purchased.

"We are launching a two-stage process for buying back our own shares. In the first phase, we will create a liquidity event for investors wishing to sell all or part of their shares. In the second phase, which will begin in November, after the announcement of the Bank's third-quarter results, shares will be repurchased on the open market. With this share buyback strategy, we believe we will achieve the best results, ensuring a high return for shareholders and increasing the Bank's attractiveness to investors," says Tomas Varenbergas, Head of Investment Management Division of Šiaulių Bankas.

On 15 August 2024 the Bank received permission from the European Central Bank (ECB) to buy back up to 13,745,114 its own shares.

Additional information:

Tomas Varenbergas

Head of Investment Management Division