KN Energies AB

Business and Financial Review • May 19, 2022

Disclosure 409062

Klaipedos Nafta - Notification on material event

Regarding the approval of the key financial performance indicators for AB Klaipėdos nafta for the period of 2022-2024

AB Klaipėdos nafta (hereinafter – the Company) hereby informs that the Government of the Republic of Lithuania on 18 May 2022 adopted the resolution No. 509 “Regarding the approval of the key financial performance indicators for state-owned enterprises for the period of 2022-2024”, which establishes the following performance indicators for the Company:

Indicator	2022	2023	2024
Average annual adjusted EBITDA*	Period 2022–2024 ≥ EUR 33.9 million
Annual financial debt to equity ratio	Period 2022–2024 limit 1.7–3.2 times

* EBITDA less adjustment (temporary regulatory differences, temporary fluctuations in the fair value of financial derivatives, results from disposal or revaluation of non-current assets, compensations received for previous periods, other non-typical corrections).

Mindaugas Kvekšas, Chief Financial Officer, +370 46 391772