Latvijas Gaze

Share Issue/Capital Change • Jul 28, 2016

Attachment No.1

Draft decision of the Joint Stock Company "Latvijas Gāze" Extraordinary General Meeting of Shareholders to be held on 2nd September 2016

The Amendments to the Articles of Association of the Joint Stock Company "Latvijas Gāze"

1. Point 3 of Article 6.7 of the Articles of Association shall read as follows:

"3) the distribution of an adequate dividend to the shareholders will be carried out each fiscal year, while determination and payment of interim dividends (within the meaning given to this term under the Latvian Commercial Law) shall be made no earlier than 3 months after last decision of the shareholder meeting for distribution of dividends."

1. To supplement the Articles of Association with Articles 6.10 and 6.11 as follows:

"6.10. The Company determines, calculates and makes payment of interim dividends in accordance with provisions of the Commercial Law. 6.11. Subject to demonstration of a profit in the Company's financial statement covering a period of at least 3 months after last financial accounting period, and subject to discretion of the Board of Management in there being a financial or economic basis for payment of interim dividends, the Board of Management is authorised to convene an extraordinary shareholder meeting, in accordance with provisions of this Articles of Association, regarding decision for determination of interim dividends.".

1. To stipulate that the Amendments to the Articles of Association of the Joint Stock Company "Latvijas Gāze" shall take effect as of the moment of registration at the Commercial Register Authority – the Register of Enterprises of the Republic of Latvia.