KN Energies AB

Business and Financial Review • Oct 5, 2022

Disclosure 413516

Klaipedos Nafta - Notification on material event

AB Klaipėdos nafta to exercise an option right to acquire the floating storage regasification unit (FSRU) INDEPENDENCE

In accordance with the Time Charter Party and upon the set deadline AB Klaipedos nafta (hereinafter – the Company) has notified HÖEGH group companies that the Company exercises an option right to acquire the floating storage regasification unit (FSRU) INDEPENDENCE (hereinafter – FSRU). After fulfilling all the option conditions specified in the Time Charter Party, the Company will acquire the FSRU no later than 6 December 2024. Until then the Company will continue to lease the FSRU under the same conditions.

The Company notes that an investment in the FSRU, as a regulated activity asset, was approved by resolution No. O3E-13 of 7 January 2022 of the National Energy Regulatory Council. In addition, on 9 March 2020 the Company concluded the loan agreement with the Nordic Investment Bank with the purpose to finance such investment (reference: https://view.news.eu.nasdaq.com/view?id=b2e98bfa5a42f5597f5dbca3a15cc0894&lang=en).

It should be recalled that information about the decision to acquire FSRU and the main conditions was published in the Company’s notification on material event on 25 February 2022 (reference: https://view.news.eu.nasdaq.com/view?id=b4fb347dba2b0e58875a432a8a0f13581&lang=en).

Mindaugas Kvekšas, Chief Financial Officer, +370 46 391 772