Litgrid AB

Audit Report / Information • May 9, 2017

/Logo of EPSO-G/

EXTRACT FROM THE MINUTES OF THE MEETING OF THE AUDIT COMMITTEE AT UAB EPSO-G SUPERVISORY BOARD

12 April 2017, No. AK-17-8, Vilnius

The meeting of the Audit Committee (hereinafter referred to as 'the Committee') was held on 12 April 2017, at 12:00–14:00, in the premises of UAB EPSO-G (hereinafter referred to as 'EPSO-G' or 'the Company') at Gedimino ave. 20, Vilnius (2nd floor).

Members of the Committee present at the meeting: Raimondas Rapkevičius, Gediminas Šiušas. 2 members of the Committee participated in the meeting. Following the provisions of Par. 32 of the Work Regulations of the Committee, the quorum required for the decisions to be taken is present and the meeting shall be considered as duly held.

Present at the meeting without voting right: Director for Legal and Corporate Affairs of the Company Gabija Kuncytė, Senior Legal Counsel of the Company Renata Damanskytė, Director of Finance Algirdas Juozaponis, Head of Internal Audit Rasa Juodelytė, Head of Risk Management and Prevention Romas Zienka.

Members of the Committee confirmed that the meeting had been duly convened in compliance with the established procedures, with advance notification given to all members of the Committee.

Chairman of the meeting: Chairman of the Committee Raimondas Rapkevičius. Secretary of the meeting: Director for Legal and Corporate Affairs of the Company Gabija Kuncytė.

Agenda:

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6. Regarding recommendations on the appointment of the independent auditor for UAB EPSO-G Group and the establishment of the auditor's remuneration

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6. CONSIDERED: Regarding recommendations on the appointment of the independent auditor for UAB EPSO-G Group and the establishment of the auditor's remuneration <…>

VOTING RESULTS: Raimondas Rapkevičius – "in favour", Gediminas Šiušas – "in favour". Total number of votes: 2 (two) votes "in favour", 0 (zero) votes "against".

DECIDED: following the provisions of Par. 20.4 of the Work Regulations of the Audit Committee establishing that function of the Committee shall be the provision of recommendations to the management and supervision bodies of the Group on the selection of an auditor and/or audit company elected by the general shareholders' meetings of the companies within the Group:

• 6.1. to recommend that the Management Boards of UAB EPSO-G, LITGRID AB, AB Amber Grid, BALTPOOL UAB, UAB TETAS and UAB LITGRID Power Link Service suggest their general shareholders' meetings selecting UAB PricewaterhouseCoopers, code 111473315, as the audit company to perform audit of the set of annual financial statements for the year 2017, paying the same audit fee as the fee paid for the audit of the set of annual financial statements for the year 2016;
• 6.2. considering the initial non-participation of UAB GET Baltic in the joint procurement by the Group of the services related to the audit of the sets of annual financial statements for 2015–2017, to recommend that the Management Board of UAB GET Baltic:

Translation from Lithuanian

• (i) send requests for quotations to audit companies and select the audit company which submits the best proposal for the audit of the set of annual financial statements for the year 2017. Before entering into the contract with the selected audit company, to address the Committee for recommendations on the audit company selected;
• (ii) join the joint procurement by the Group of the audit services when selecting the audit company for the audit of the set of annual financial statements for the year 2018.

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Chairman of the Audit Committee	/signature/	/Signature/	Raimondas Rapkevičius
Secretary of the Audit Committee	/signature/		Gabija Kuncytė

The present extract was prepared on 27 April 2017:

_________________________________ Raimondas Rapkevičius, Chairman of the Committee