Ignitis Grupe

Legal Proceedings Report • Aug 4, 2020

Disclosure 385985

Ignitis grupė - Notification on material event

Regarding the claim brought before the Court

AB Ignitis Grupė, (hereinafter – the Company) identification code 301844044, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania. The total nominal value of issued bonds 900 000 000 EUR; ISIN codes XS1646530565; XS1853999313; XS2177349912.

The company informs that on 3 August 2020 Vilnius Regional Court announced that it received a claim from V. Martikonis, a shareholder of AB Ignitis gamyba (hereinafter - GEN), requesting the court:

• To determine the fair buyout price which the Company has to pay to V. Martikonis for one registered ordinary GEN share which will be bought out from him;
• To provide expertise to determine the fair price of GEN share.

According to the Company, this claim does not affect the process of delisting the shares of GEN and AB Energijos Skirstymo Operatorius (hereinafter - ESO) from trading on the regulated market, which ended on 1 July 2020 and the ongoing mandatory buy-out of shares of GEN and ESO or the Company's preparation for the initial public offering.

However, due to the received claim of V. Martikonis, the Company will have to re-evaluate whether it will be able to apply the pre-emptive right to acquire the shares of Ignitis Group during the initial public offering to the minority shareholders of ESO and GEN who sold their shares to the Company during an official tender offer.

These shareholders under a settlement agreement (hereinafter – the Agreement) which was reached on 17 March by Ignitis Group with the Investors' Association representing the minority shareholders of ESO and GEN, were entitled to the allocation of Ignitis Group initial public offering shares for sum which is equal to the number of shares held by the shareholder multiplied by EUR 0,880 for one share of ESO and by EUR 0,640 for one share of GEN, adding the sum of dividends paid in 2020 for the financial year of 2019 which is proportional to the number of shares held by the shareholder. As announced previously (link), these buy-out prices of ESO and GEN shares were approved by The Bank of Lithuania.

One of the conditions of the Agreement (link to reference) was that the Agreement would expire if any litigations will be brought in courts regarding dispute about prices and/or decisions of mandatory buy-out of shares of ESO and/or GEN.

The Company will analyse received claim and related arguments and inform about further actions in accordance with the procedure established by legal acts.

For more information please contact:

Artūras Ketlerius

Head of Public Relations at Ignitis Group

arturas.ketlerius@ignitis.lt

+370 620 76076