Amber Grid — Annual Report 2021

Feb 4, 2022

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AB AMBER GRID

CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021 PREPARED ACCORDING TO INTERNATIONAL FINANCIAL REPORTING STANDARDS AS ADOPTED BY THE EUROPEAN UNION

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Consolidated and separate Statement of financial position

(All amounts are in EUR ‘000 unless otherwise stated)

Notes ASSETS A. Non-current assets I. Intangible assets 5 II. Property, plant and equipment 5 II.1. Land II.2. Buildings II.3. Plant and equipment II.4. Machinery and equipment II.5. Motor vehicles II.6. Other II.7. Construction in progress 6 III. The right-of-use assets 7 IV. Non-current financial assets IV.1 Investment in the subsidiary IV.2. Non-current trade receivables 8 IV.3 Other non-current financial assets V. A deferred tax asset B. Current assets I. Inventories and prepayments I.1. Raw materials, spare parts and other inventories I.2. Prepayments II. Accounts receivable II.1. Trade receivables 8 II.2. Other receivables 9 III. Corporate income tax paid in advance IV. Other financial assets 10 V. Cash and cash equivalents Total assets	Group Company
	At 31 December 2021 At 31 December 2020 At 31 December 2021 At 31 December 2020
	272,087 255,757 272,202 255,649
	4,742 4,833 4,210 4,189
	255,984 241,624 255,978 241,620
	125 125 125 125
	6,529 5,427 6,529 5,427 199,940 146,003 199,940 146,003 37,143 34,583 37,143 34,583 373 542 373 542 4,066 3,171 4,060 3,167 7,808 51,773 7,808 51,773 3,849 2,335 3,737 2,204 4 4 769 675
	- - 769 675 - - - - 4 4 - - 7,508 6,961 7,508 6,961
	108,154 60,614 46,318 49,144
	8,818 2,626 8,801 2,611
	8,101 1,897 8,101 1,897
	717 729 700 714
	45,946 47,377 35,257 45,356
	21,424 7,870 10,736 5,851
	24,522 39,507 24,521 39,505
	943 1,171 943 1,171
	51,514 8,673 1,305 3
	906 767 12 3
	380,214 316,371 318,520 304,793

(cont’d on the next page)

The accompanying notes are an integral part of these financial statements.

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Consolidated and separate Statement of financial position (cont’d)

(All amounts are in EUR ‘000 unless otherwise stated)

Notes EQUITY AND LIABILITIES C. Equity I. Share capital II. Reserves II.1. Legal reserve II.2. Other reserves III. Retained earnings (deficit) D. Accounts payable and liabilities I. Amounts payable after one year and non-current liabilities I.1. Non-current borrowings 11 I.2. A right-of-use asset and corresponding liability 7 I.3. Contract liabilities 12 I.4. Non-current employee benefits I.5. Deferred income tax liability I.6. Other non-current liabilities I.7. Provisions II. Accounts payable within one year and short-term liabilities II.1. Current financial liability 11 II.2. Current portion of non-current borrowings 11 II.3. A right-of-use asset and corresponding liability 7 II.4. Current year portion of non-current employee benefits II.5. Trade payables 14 II.6. Advance amounts and contract liabilities 15 II.7. Income tax payable II.8. Payroll related liabilities II.9. Other payables and current liabilities 16 II.10. Provisions Total equity and liabilities	Group Company
	At 31 December 2021 At 31 December 2020 At 31 December 2021 At 31 December 2020
	178,040 154,830 177,573 154,410
	51,731 51,731 51,731 51,731
	102,715 74,638 102,678 74,638
	5,210 5,173 5,173 5,173 97,505 69,465 97,505 69,465 23,594 28,461 23,164 28,041
	202,201 161,541 140,947 150,383 97,661 107,506 97,578 107,396
	91,391 101,565 91,391 101,565 3,494 1,953 3,411 1,843 1,305 1,337 1,305 1,337 530 509 530 509 - - - - - - - - 941 2,142 941 2,142 104,540 54,035 43,369 42,987
	3,284 7,852 3,284 7,852 10,174 10,174 10,174 10,174 432 410 401 387 72 39 72 39 32,476 10,429 8,439 8,151 37,284 8,558 829 312 6 51 - - 2,943 2,140 2,826 2,054 16,546 14,345 16,128 13,981 1,216 37 1,216 37
	380,214 316,371 318,520 304,793

The accompanying notes are an integral part of these financial statements.

Chief Executive Officer Head of accounting	Nemunas Biknius Rasa Baltaragienė		4 February2022
			4 February2022

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Consolidated Statement of profit or loss

(All amounts are in EUR ‘000 unless otherwise stated)

Notes I. Revenue 4 II. Expenses II.1. Cost of natural gas II.2. Depreciation and amortization II.3. Remuneration and related social security tax expenses II.4. Repair and technical maintenance expenses II.5. Taxes other than income tax II.6. Telecommunications and IT systems expenses II.7. Other expenses III. Operation profit (loss) 4 IV. Financial activity 4 IV.1. Income IV.2. Expense V. Profit (loss) before income tax 4 VI. Income tax 4 VI.1. Current period income tax VI.2 Deferred income tax VII. Net profit (loss) 4 Basic and diluted earnings (loss) per share (Eur) 17		Group
		For the period of three months ended 31 December 2021 For the period of three months ended 31 December 2020 For the period of twelve months ended 31 December 2021 For the period of twelve months ended 31 December 2020
		24,104 14,094 68,595 52,286
		(14,504) (10,328) (45,381) (37,337)
		(4,577) (1,285) (11,268) (6,345) (3,106) (2,811) (12,057) (11,126) (3,318) (2,871) (11,348) (10,254) (1,369) (1,517) (3,561) (3,405) (620) (499) (2,320) (1,954) (545) (457) (1,715) (1,561) (969) (888) (3,112) (2,692) 9,600 3,766 23,214 14,949 (167) (54) (437) (363)
		- 1 2 3 (167) (55) (439) (366) 9,433 3,712 22,777 14,586
		(1,171) 977 434 3,584 (25) (29) (113) (98) (1,146) 1,006 547 3,682 8,262 4,689 23,211 18,170
		0,05 0,03 0,13 0,10

The accompanying notes are an integral part of these financial statements.

Chief Executive Officer Head of accounting	Nemunas Biknius Rasa Baltaragienė		4 February2022
			4 February2022

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Consolidated Statement of comprehensive income

(All amounts are in EUR ‘000 unless otherwise stated)

I. Net profit (loss) II. Total comprehensive income (loss)	Group
	For the period of three months ended 31 December 2021 For the period of three months ended 31 December 2020 For the period of twelve months ended 31 December 2021 For the period of twelve months ended 31 December 2020
	8,262 4,689 23,211 18,170
	8,262 4,689 23,211 18,170

The accompanying notes are an integral part of these financial statements.

Chief Executive Officer Head of accounting	Nemunas Biknius Rasa Baltaragienė		4 February2022
			4 February2022

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Company’s statement of profit or loss

(All amounts are in EUR ‘000 unless otherwise stated)

Notes I. Revenue 4 II. Expenses II.1. Cost of natural gas II.2. Depreciation and amortization II.3. Remuneration and related social security tax expenses II.4. Repair and technical maintenance expenses II.5. Taxes other than income tax II.6. Telecommunications and IT systems expenses II.7. Other expenses III. Operation profit (loss) 4 IV. Financial activity 4 IV.1. Income IV.2. Expense V. Profit (loss) before income tax 4 VI. Income tax 4 VI.1. Current period income tax VI.2 Deferred income tax VII. Net profit (loss) 4 Basic and diluted earnings (loss) per share (Eur) 17		Company
		For the period of three months ended 31 December 2021 For the period of three months ended 31 December 2020 For the period of twelve months ended 31 December 2021 For the period of twelve months ended 31 December 2020
		23,657 13,606 66,973 50,831
		(14,151) (10,144) (44,448) (36,674)
		(4,577) (1,285) (11,268) (6,345) (3,062) (2,762) (11,882) (10,934) (3,202) (2,777) (10,898) (9,905) (1,369) (1,517) (3,561) (3,405) (620) (499) (2,318) (1,953) (519) (436) (1,625) (1,483) (802) (868) (2,896) (2,649) 9,506 3,462 22,525 14,157 (141) (53) 92 (360)
		- 1 480 3 (141) (54) (388) (363) 9,365 3,409 22,617 13,797
		(1,146) 1,006 547 3,635 - - - (47) (1,146) 1,006 547 3,682 8,219 4,415 23,164 17,432
		0,05 0,02 0,13 0,10

The accompanying notes are an integral part of these financial statements.

Chief Executive Officer Head of accounting	Nemunas Biknius Rasa Baltaragienė		4 February2022
			4 February2022

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Company’s Statement of comprehensive income

(All amounts are in EUR ‘000 unless otherwise stated)

I. Net profit (loss) II. Total comprehensive income (loss)	Company
	For the period of three months ended 31 December 2021 For the period of three months ended 31 December 2020 For the period of twelve months ended 31 December 2021 For the period of twelve months ended 31 December 2020
	8,219 4,415 23,164 17,432
	8,219 4,415 23,164 17,432

The accompanying notes are an integral part of these financial statements.

Chief Executive Officer Head of accounting	Nemunas Biknius Rasa Baltaragienė		4 February2022
			4 February2022

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Consolidated Statement of changes in equity

(All amounts are in EUR ‘000 unless otherwise stated)

Group Balance as of 31 December 2019 Total comprehensive income (loss) Net profit (loss) for the year Balance as of 31 December 2020 Formed reserves Dividends Total comprehensive income (loss) Net profit (loss) for the year Balance as of 31 December 2021	Share capital Legal reserve Other reserves Retained earnings (deficit) Total
	51,731 5,173 69,465 10,291 136,660
	- - - 18,170 18,170
	- - - 18,170 18,170
	51,731 5,173 69,465 28,461 154,830
	- 37 28,040 (28,077) -
	- - - - -
	- - - 23,211 23,211
	- - - 23,211 23,211
	51,731 5,210 97,505 23,594 178,040

The accompanying notes are an integral part of these financial statements.

Chief Executive Officer Head of accounting	Nemunas Biknius Rasa Baltaragienė		4 February2022
			4 February2022

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Company’s Statement of changes in equity

(All amounts are in EUR ‘000 unless otherwise stated)

Company Balance as of 31 December 2019 Total comprehensive income (loss) Net profit (loss) for the year Balance as of 31 December 2020 Formed reserves Dividends Total comprehensive income (loss) Net profit (loss) for the year Balance as of 31 December2021	Share capital Legal reserve Other reserves Retained earnings (deficit) Total
	51,731 5,173 69,465 10,609 136,978
	- - - 17,432 17,432
	- - - 17,432 17,432
	51,731 5,173 69,465 28,041 154,410
	- - 28,040 (28,040) -
	- - - - -
	- - - 23,164 23,164
	- - - 23,164 23,164
	51,731 5,173 97,505 23,164 177,573

The accompanying notes are an integral part of these financial statements.

Chief Executive Officer Head of accounting	Nemunas Biknius Rasa Baltaragienė		4 February2022
			4 February2022

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Consolidated and separate Statement of cash flows

(All amounts are in EUR ‘000 unless otherwise stated)

Notes I. Cash flows from operating activities I.1. Net profit (loss) 4 Adjustments for non-cash items and other corrections: I.2. Depreciation and amortisation 4 I.3. Loss (profit) on disposal and write-off of property, plant and equipment, doubtful trade receivables and inventories I.4. Impairment (reversal of impairment) of property, plant and equipment, financial assets, doubtful trade receivables and inventories I.5. Income tax expenses (benefit) 4 I.6. Interest (income) I.7. Interest expenses I.8. Dividend(income) I.9. Income of grants I.10. Elimination of other non-cash items Changes in working capital: I.11. Decrease (increase) in inventories I.12. (Increase) decrease in trade receivables I.13. (Increase) decrease in other receivables and prepayments I.14. (Decrease) increase in trade payables I.15. (Decrease) increase in other payables and current liabilities I.16. (Increase) decrease in other financial assets I.17. Income tax (paid) Net cash flows from operating activities II. Cash flows from investing activities II.1. (Acquisition) of property, plant and equipment and intangible assets II.2. Proceeds on disposal of property, plant and equipment II.3. Grants received II.4. Loans granted (repayments received) II.5. Interest received II.6. Dividends received Net cash flows (used) in investing activities	Group	Company
	For the period of twelve months ended 31 December 2021 For the period of twelve months ended 31 December 2020	For the period of twelve months ended 31 December 2021 For the period of twelve months ended 31 December 2020
	23,211 18,170 - - 12,057 11,126 (115) (108) 142 (39) (434) (3,584) - - 437 294 - - (144) - 2 - (6,047) 294 (13,579) (2,010) (214) 3,685 24,682 62 32,461 (11,286) (42,868) 9,974 (523) (1,906) 29,068 24,672	23,164 17,432 - - 11,882 10,934 (115) (123) 48 (39) (547) (3,635) - - 386 291 (478) - (144) - 2 - (6,047) 294 (4,910) 14 (214) 3,688 2,923 560 4,167 (3,952) (1,302) 1 (472) (1,906) 28,343 23,559
	(48,448) (86,315) 169 173 35,052 15,065 - - - - - -	(48,410) (86,136) 169 173 35,052 15,065 - - - - 478 -
	(13,227) (71,077)	(12,711) (70,898)

The accompanying notes are an integral part of these financial statements. (cont’d on the next page)

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Consolidates and separate statements of cash flows (cont’d)

(All amounts are in EUR ‘000 unless otherwise stated)

Notes III. Cash flows from financing activities III.1. Dividends (paid) III.2. Proceeds from borrowings III.3. (Repayments) of borrowings III.4. Change in overdraft III.5. Interest (paid) III.6. Liabilities settled in relation to right-of-use assets III.7. Other cash flows from financing activities Net cash flows from (used in) financing activities IV. Net increase (decrease) in cash and cash equivalents V. Cash and cash equivalents at the beginning of the year VI. Cash and cash equivalents at the end of the year	Group Company
	For the period of twelve months ended 31 December 2021 For the period of twelve months ended 31 December 2020 For the period of twelve months ended 31 December 2021 For the period of twelve months ended 31 December 2020
	- (3) - (3) - 60,000 - 60,000 (10,174) (13,798) (10,174) (13,618) (4,568) 1,580 (4,568) 1,580 (540) (424) (489) (421) (420) (416) (392) (393) - - - -
	15,702 46,939 (15,623) 47,145
	153 534 9 (194) 767 233 3 197
	906 767 12 3

1) The comparative figures have been restated for changes in accounting policy of revenue from connection fees of new consumers; see Note 19 for a detailed disclosure of the restatement effects.

The accompanying notes are an integral part of these financial statements.

Chief Executive Officer Head of accounting	Nemunas Biknius Rasa Baltaragienė		4 February2022
			4 February2022

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Notes to the consolidated and separate financial Statements

(All amounts are in EUR ‘000 unless otherwise stated)

1 General information

The consolidated financial statements disclose the financial position and performance of the AB Amber Grid (hereinafter referred to as the ‘Company’) and the Group which consists of AB Amber Grid and its subsidiary UAB GET Baltic (hereinafter together referred to as the ‘Group’).

AB Amber Grid was registered on 25 June 2013 after the spin-off from AB Lietuvos Dujos of the natural gas transmission activity with respective assets, rights and obligations attributed to the activity in question. The Company’s operations date back to 1 August 2013.

On 10 April 2015, upon the obtaining of a positive decision from the European Commission, the National Energy Regulatory Council (before National Commission for Energy Control and Prices) issued in respect of the Company an open-ended License No. L2-3 (GDP) for the engagement in the Transmission System Operator's activity within the territory of Lithuania.

The Company is engaged in the natural gas transmission system operator’s activity and provides to system users, other operators, and gas market players the following services:

• transmission of natural gas in the territory of the Republic of Lithuania;

• balancing of natural gas flows in the transmission system;

• administration of the funds intended to compensate for the installation and fixed operating costs of the Liquefied Natural Gas Terminal, its infrastructure and connector and, as from 2016, for reasonable costs of the designated supplier for the supply of an obligatory quantity of liquefied natural gas.

On 1 October 2021, the company has changed its registered office address. As of the specified date, the registered office address of AB Amber Grid is Laisvės ave. 10, Vilnius, Lithuania.

On 31 December 2021, the Company had 110 contracts for natural gas transmission services with the users of natural gas transmission system (natural gas customers, natural gas distribution system operators, natural gas supply companies that supply gas up to customers systems). In addition, Company had entered into natural gas balancing agreements with 1 natural gas trade companies that trade natural gas, but do not use Company’s transmission system infrastructure.

The Company's largest shareholder is UAB EPSO-G (www.epsog.lt). The rights and obligations of the sole shareholder of the management company UAB EPSO - G are implemented by the Ministry of Energy of the Republic of Lithuania.

Since 1 August 2013, the Company’s shares have been traded on a stock exchange; they are listed on the Baltic Secondary Trading List of NASDAQ OMX Vilnius Stock Exchange (ISIN code LT0000128696, instrument AMG1L, LEI code 097900BGMP0000061061).

As of 31 of December 2021 and 31 December 2020, the Company’s shareholders were as follows:

UAB EPSO-G (Company Code 302826889, Gedimino ave. 20, Vilnius) Other shareholders	Number of shares owned Ownership share (percent)
	172,279,125 96,58 6,103,389 3,42
	178,382,514 100,00

The Company’s share capital amounts to EUR 51,730,929.06. It is divided into 178,382,514 ordinary registered shares with par value of EUR 0.29 each.

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

	Company	Registered address of	Stake of shares held as	Stake of shares held as
Company	code	the company	of 31 December 2021	of 31 December 2020
UAB GET Baltic	302861178	Geležinio Vilko st. 18 A,	100 percent	100 percent
		Vilnius

GET Baltic is a Joint Stock Company registered in the Republic of Lithuania. The Company was registered in the Register of Legal Entities on 13 September 2012.The Company is the sole shareholder of GET Baltic, which owns 100% of the authorized capital. On 31 December 2021 and on 31 December 2020 the share capital of GET Baltic was valued of EUR 580,450 and it consists of 3,055,000 ordinary registered shares with a nominal value of EUR 0,19.

GET Baltic is a licensed natural gas market operator with a status of Registered Reporting Mechanism status provided by the ACER. The Company administrates the electronic trading system for trading spot and forward natural gas products with physical delivery in the market areas located in Lithuania, Latvia, and Estonia. The Company also provides the following services to wholesale natural gas market participants:

• Providing REMIT data to the ACER;

• Providing inside information;

• Distribution of indirect natural gas transmission capacity at interconnection points between the Baltic States;

• Organizing LNG auction;

• Announcement of balancing marginal pricing.

On 31 December 2021 Get Baltic had 97 registered stock exchange participants.

On 31 December 2021 the average number of employees of the Group and the Company consisted of 332 (as at 31 December 2020 – 325); on 31 December 2021 the average number of employees of the Company consisted of 321 employees (as at 31 December 2020 – 318).

2 Accounting principles

The financial statements present the figures in thousands of euros. The financial year of the Group and the Company coincides with the calendar year.

These condensed interim consolidated and separate financial statements, including the statements of financial position and statement of profit or loss, statements of comprehensive income, cash flow statement and the statements of changes in equity for the period ended 31 December 2021 have not been audited. The consolidated and separate financial statements for the period ended 31 December 2020 have been audited and prepared in accordance with International Financial Reporting Standards (IFRS).

For a better understanding of the information presented in these financial statements, these condensed financial statements should be read together with the annual consolidate and separate financial statements for the period ended 31 December 2020. PricewatehouseCoopers UAB carried out an audit of Consolidated and separate Financial Statements for the period ended on 31 December 2020.

The Group’s and separate condensed interim consolidated financial statements as of 31 December 2021 were prepared in accordance with International Accounting Standard 34 Interim Financial Reporting . The Group and the Company have been following the same accounting principles as the ones that were followed in the preparation of financial statements for the year 2020.

The statements were prepared based on an acquisition cost, excluding tangible fixed assets, which were presented at revalued amount.

In accordance with the accounting principles of fixed assets of EPSO–G UAB group companies, assets are accounted at revalued amount deducting accumulated depreciation and impairment losses, whereas grants are accounted for by reducing the carrying amount of the related asset.

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

3 Accounting estimates and assumptions

The preparation of financial statements in conformity with International Financial Reporting Standards requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses and disclosure of contingencies. Future events may occur which may cause the assumptions used in arriving at the estimates to change. The effect of any changes in estimates will be recorded in the financial statements, when determinable.

3.1. COVID-19 impact on key accounting estimates, assumptions and estimation uncertainties

During the assessment of coronavirus (COVID-19) pandemic and quarantine situations impact on Group and Company’s activity, the Company’s management identified the following aspects and preventive actions, that were taken to reduce the impact of pandemic situation:

According to the data as at 31 December 2021, the immunization of the Company's and the Group's employees respectively accounted for 90-100%. Although the level of immunization is high enough, due to the threat of spread of the coronavirus (COVID-19) during the pandemic period the Group and the Company reviewed and implemented the following business continuity and preventive measures: appointed employees responsible for monitoring and reporting the situation to the Company's management; identified business units and employees undertaking the critical functions and administrating the main systems; planned technical and substitution measures in case of spread of the virus. The Company continuously reviews its emergency management plan and carries out preparatory works for ensuring continuity of the critical functions.

In the opinion of the Company, the other factors (air temperature in the cold period of the year, prices of natural gas in the market) have a more significant impact on the demand for natural gas transmission services and the transmission volumes than the restrictions imposed as a result of a pandemic and quarantine situation. No significant adverse effects of COVID-19 were identified during the monitoring of trading on the natural gas exchange operated by UAB GET Baltic. Natural gas sales volumes in 2021 was 10 percent higher than in the same period of the last year.

During the pandemic situation, the Group and the Company are assessing and updating on a continuous basis, the impact of factors related to coronavirus COVID-19 on the Group’s and the Company‘s performance and results of operations. The potential disruptions or impacts are assessed on: (i) cash flows, (ii) the supply and demand of transmission services (iii) attracting of funding sources, (iv) potential infection by COVID-19 of employees fulfilling critical functions, (v) delays in fulfilment of projects.

Based on the analysis of information available as at the date of issue of the condensed financial statements about the COVID-19-related threats in the future, the Group and the Company did not identify any material circumstances that might cast doubt upon the Company‘s ability to continue as a going concern.

Net book amount and useful life: property, plant and equipment and intangible assets

According Company's management assessment no negative impact of coronavirus COVID-19 has been identified on the results of operations and cash flows, the Company‘s management believes there are no indications of impairment of property, plant and equipment. Even an adverse change in the results of operations or cash flows in a short term would not cause negative impact on the cash flows and impairment of PP&E in a long-term perspective due to the regulatory mechanism in place.

Expected credit losses: financial assets

Monitoring of the Company‘s key customers has not resulted in identification of any material negative impact of COVID-19.

The Company projects no liquidity or credit risk issues. The Company’s key customers are large companies, which are often regulated and/or included into the list of risk-free companies. Due to the specific nature of the Company’s customers, expected credit losses on receivables are assessed based on the level of credit risk. Debts with a high level of credit risk concentration or a significant increase in the probability of credit losses are assessed individually. The Company assessed the current and expected economic condition of its key customers, did not identify any significant variances, and the settlements were performed in an ordinary manner. The

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AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

expected credit losses remained at a similar level as in 2020. The Company plans to update its risk assessments regularly, upon changes in an economic environment, and takes measures to strengthen control over payments.

3.2. Provisions for easement and special land use conditions (protected areas)

A provision for non-current liabilities for the obligation to register special land use conditions (protection zones) was formed for the first time in the financial statements for the period ended 31 December 2020.

When assessing the amount of the commitment, the expected term of its fulfilment is taken into account. The provision for the commitment to register the protected areas was recognised at a present value of the expected costs of registration of the special land use conditions (the protected areas), discounted over the term of fulfilment of the commitment.

As at 31 December 2021 the assumptions for forming the provision were not changed.

3.3. Recognition of new consumers connection revenue

Preparing the financial statements for the period ended 31 December 2020, the accounting policy to recognition of revenue from connection of new customers has been changed. Connection fees on connection of new consumers are recognised as revenue over such period that reflects the best estimate of customer relationship, as opposed to the previously applied revenue recognition approach, when connection fees on connection of new consumers were recognised as revenue immediately. In the opinion of the Company‘s management, revenue from connection fees is linked directly to rendering of transmission service by the Company in future periods when assets created by the Company will be utilised, because the connection to the grid on its own, without future transmission services, does not provide benefit to a customer.

Preparing the financial statements for the period ended 31 December 2020 for the changes in accounting policy to recognition of revenue from connection fees of new consumers, a retrospective restatement was made for certain line items. As a result of a retrospective restatement, the unamortised part of the connection fee and additional connection fee paid under the contracts that had not been completed as of 1 January 2019 were recognised as a contract liability as at 1 January 2019. In 2021 year no new customers were connected to the natural gas transmission system. In accordance with the provisions of the accounting policy, the part of the connection fees for the reporting period has been recognized as income, reducing the contract liabilities under the new customer connection agreements.

4 Information by segments

The Group singles out 2 operating segments: 1) natural gas transmission operations and 2) natural gas exchange operator activities.

All non-current assets of the Group are located in Lithuania, where the Company operates.

As of 31 December 2021, the Group generated 70 % (31 December 2020: 72 %) of its total revenue from the transmission services to system users in Lithuania, 27 % (31 December 2020: 25 %) of revenue totaled from transportation of gas to adjacent transmission systems, 2% (31 December 2020: 3%) of revenue originated from the revenue from services provided by the Natural Gas Exchange and 1 % from the provision of the other goods and services.

The Group’s information on segments for the period ended on 31 December 2021 is disclosed below:

Revenues Income having eliminated the income of Group entities Profit / loss from operating activities Net financing income (costs) Profit / loss before tax Income tax Net earnings (loss) Depreciation / amortisation costs Write-offs of non-current tangible assets	Transmission activity Activities of the gas exchange Total
	66,973 1,660 68,633 66,973 1,622 68,595 22,469 745 23,214 (386) (51) (437) 22,083 694 22,777 547 (113) 434 22,630 581 23,211 (11,882) (175) (12,057) (26) - (26)

18

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

The Group’s information on segments for the period ended on 31 December 2020 is disclosed below:

Revenues Income having eliminated the income of Group entities Profit / loss from operating activities Net financing income (costs) Profit / loss before tax Income tax Net earnings (loss) Depreciation / amortisation costs Write-offs of non-current tangible assets	Transfer activity Activities of the gas exchange Total
	50,831 1,503 52,334 50,831 1,455 52,286 14,205 744 14,949 (360) (3) (363 13,845 741 14,586 3,635 (51) 3,584 17,480 690 18,170 (10,934) (192) (11,126 - -

5 Non-current tangible and intangible assets

Non-current intangible assets Residual value as of 31 December 2019	Group Company
	2,910 2,262
Additions Write-offs Amortisation Netting of grants with the non-current assets Residual value as of 31 December 2020 Residual value as of 31 December 2020	3,076 2,898 (15) - (961) (794) (177) (177)
	4,833 4,189
	4,833 4,189
Additions Reclassification Amortisation Netting of grants with the non-current assets Residual value as of 31 December 2021	856 822 479 479 (1,113) (967) (313) (313)
	4,742 4,210

As at 31 December 2020, the Company recognised a provision of EUR 2,179 thousand and the related intangible assets for the establishment of the special land use conditions (protected areas). The provision was established under the amendments to the Regulations of the Real Property Cadastre, which were necessary for the establishment of a commitment to form a register of protected areas, as set out in the Lithuanian Law on Special Land Use Conditions, by the year 2023, and based on the Description of the procedure for preparation and approval of the protected areas , approved under the Lithuanian Energy Minister‘s Order No. 1-339 of 13 October 2020. Discounting of the provision was based on a discount rate of 0.62 percent. As at 31 December 2021 for the establishment of the special land use conditions (protected areas) were used EUR 22 thousand (provision reduction).

Non-current tangible assets Residual value as of 31 December 2019	Group Company 201,362 201,359 88,957 88,955 (9,727) (9,727) (82) (81) (38,886) (38,886) 241,624 241,620 241,624 241,620 44,918 44,914 (10,478) (10,476) (220) (220)
Additions Depreciation Write-offs Netting of grants with the non-current assets Residual value as of 31 December 2020 Residual value as of 31 December 2020
Additions Depreciation Write-offs, sales

19

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Reclassification Netting of grants with the non-current assets Residual value as of 31 December 2021	(479) (479) (19,381) (19,381)
	255,984 255,978

In the Group and the Company, non-current assets are accounted at revalued amount of assets, reducing the grants received for that asset.

In 2020, the construction works of the gas interconnection between Poland and Lithuania (hereinafter – GIPL) were started. As at 31 December 2021 the construction of the pipeline was completed. The total value of GIPL project as at 31 December was amounted to EUR 116,3 million, EUR 51,5 million of which is funded by EU support. Until 31 December 2021 received funding was amounted to EUR 43,079 thousand.

The amount of the depreciation of the grants in the income statement is reflected by deducting the depreciation costs of the related assets with the grant income, as of 31 December 2021, it stood at EUR 3,344 thousand (as of 31 December 2020 - EUR 2,646 thousand).

6 Construction in progress

The largest objects of construction in progress of the Group and Company as of 31 December 2021 and 31 December 2020 were as follows:

Items Implementation of gas interconnection Poland-Lithuania project in the territory of Lithuania Installation of pig launchers/receivers Implementation of operative technological control of gas transmission system Construction of the main gas pipeline Vilnius-Kaunas and interconnection Kaunas-Šakiai Reconstruction of GDS (6 units) and GMS (1 unit) Increasing the capacity of the gas pipeline connection between Lithuania and Latvia (extension of Kiemėnai DAS) ELLI Modernization of gas compressor stations Installation of solar electric modules Other Grants recognised (offsetting against non-current assets) Less: impairment of construction work in progress1)	At 31 December 2021 At 31 December 2020
	- 83,799 10,364 4,446 1,487 2,781 551 551 407 98 148 49 798 214 41 9 1,215 1,316 (6,606) (40,910) (597) (580)
	7,808 51,773

1) Impairment for the Project “Construction of interconnection between the gas transmission pipelines Vilnius-Kaunas and Kaunas-Šakiai (spatial planning and design services)” was made for the amount of EUR 551 thousand because the construction of the pipeline was postponed for later periods and there arose certain uncertainties regarding of its funding issues and its further development.

7 The right-of-use assets and lease liabilities

As described below, the Group and the Company have taken on lease office premises, motor vehicles, and land. Lease periods for premises, motor vehicles and land are 5-10 years, 4 years, and 99 years, respectively. The Group and the Company assessed the probability of exercising the lease extension option when recognising right-of-use assets and lease liabilities, and when determining the lease periods. As at 1 October 2021, the company leased new office premises at Laisvės ave. 10, Vilnius. The term of the lease agreement, taking into account the lease extension option, which is intended to be used, is 10 years. Based on the increasing land lease fee in the period of 2019-2021 year, the Company reassessed the lease asset and liabilities. The value of land recognized as assets held under the right of use and lease liabilities were increased in EUR 256 thousand.

20

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

AS OF 31 DECEMBER 2021

Initial value of recognized assets at 31 December 2019		Group
		Buildings Land Motor vehicles Total
		723 1,265 13 2,001
Acquisitions Write-offs Amortization Residual value at 31 December 2020 Residual value of recognized assets at 31 December 2020		4 - 1,119 1,123 (354) - - (354) (152) (13) (270) (435)
		221 1,252 862 2,335
		221 1,252 862 2,335
Acquisitions Write-offs Amortization Residual value at 31 December 2021 Initial value Accumulated depreciation Residual value at 31 December 2021		1,716 257 8 1,981 - - - - (162) (16) (289) (467)
		1,775 1,493 581 3,849
		1,880 1,534 1,149 4,563 (105) (41) (568) (714)
		1,775 1,493 581 3,849

Initial value of recognized assets at 31 December 2019	Initial value of recognized assets at 31 December 2019	Buildings Land Motor vehicles Total 585 1,265 - 1,850
Acquisitions Write-offs Amortization Residual value at 31 December 2020 Residual value of recognized assets at 31 December 2020		- - 1,119 1,119 (354) - - (354) (132) (13) (266) (411)
		99 1,252 853 2,204
		99 1,252 853 2,204
Acquisitions Write-offs Amortization Residual value at 31 December 2021 Initial value Accumulated depreciation Residual value at 31 December 2021		1,716 257 - 1,973 - - - - (143) (16) (281) (440)
		1,672 1,493 572 3,737
		1,716 1,534 1,119 4,369 (44) (41) (547) (632)
		1,672 1,493 572 3,737

As the useful life of the right-of-use assets is longer than the lease term, depreciation is calculated from the commencement date of the lease to the end of the lease term.

Group

Carrying amount of lease liabilities at the beginning of the period Recognition of lease liabilities under IFRS 16 Concluded lease contracts Termination of leases (write-offs of debts and accrued interest)	At 31 December 2021 At 31 December 2020
	2,363 2,009 257 4 1,724 1,119 - (354)

21

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

AS OF 31 DECEMBER 2021

Interest expenses Lease payments (Principal and Interest) Carrying amount at 31 December Non-current lease liabilities Current lease liabilities Carrying amount of lease liabilities at the beginning of the period Recognition of lease liabilities under IFRS 16 Concluded lease contracts Termination of leases (write-offs of debts and accrued interest) Interest expenses Lease payments (Principal and Interest) Carrying amount at 31 December Non-current lease liabilities Current lease liabilities Lease liabilities Current year Repayment terms of non-current liabilities: Between 1 and 2 years From 2 to 3 years From 3 to 5 years After 5 years Lease liabilities Current year Repayment terms of non-current liabilities: Between 1 and 2 years From 2 to 3 years From 3 to 5 years After 5 years		28 26 (446) (441) 3,926 2,363 3,494 1,953 432 410 Company At 31 December 2021 At 31 December 2020 2,230 1,857 257 - 1,716 1,119 - (354) 26 24 (417) (416) 3,812 2,230 3,411 1,843 401 387 Group At 31 December 2021 At 31 December 2020 432 410 3,494 1,953 505 310 243 312 421 84 2,325 1,247 Company
		At 31 December At 31 December 2021 2020
		401 387
		3,411 1,843
		476 287 221 289 389 46 2,325 1,221

Interest on lease liabilities reflected in the Group’s finance costs amounted to EUR 28 thousand as at 31 December 2021 (31 December 2020: EUR 26 thousand). The Group and the Company had no leases with variable payments not included in the value of lease liabilities. In 2021, the Group’s lease payments amounted to EUR 446 thousand (in 2020: EUR 414 thousand).

22

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

8 Trade receivables

Trade receivables
	Group		Company
	At 31 December	At 31 December	At 31 December	At 31 December
	2021	2020	2021	2020
Non-current trade receivables
Other trade receivables	-	-	-	-
Current trade receivables
Gas transmission services receivables	9,424	5,745	9,574	5,799
Other trade receivables	12,067	2,195	1,229	122
Less: allowance for the decrease in value of trade receivables	(67)	(70)	(67)	(70)
	21,424	7,870	10,736	5,851

Short-term trade receivables were interest-free; their payment period ranged from 9 to 30 calendar days. In Impairment of trade receivables in amount of EUR 67 thousand was formed as at 31 December 2021.

9 Other receivables

LNG terminal funds receivable (administered by the Company) Grants receivable Receivables accrued for natural gas transportation Other receivables	Group Company
	At 31 December 2021 At 31 December 2020 At 31 December 2021 At 31 December 2020
	13,385 12,834 13,385 12,834 10,330 25,628 10,330 25,628 766 965 766 965 41 80 40 78
	24,522 39,507 24,521 39,505

The LNG terminal funds receivable as at 31 December 2021 include the overdue amount of EUR 4,912 thousand (as at 31 December 2020 - EUR 5,253 thousand) of which total the overdue amount of AB “Achema’s” was EUR 4,847 thousand, the overdue amount of UAB “Geoterma” was EUR 65 thousand. For the Company’s Other Receivables, no impairment loss was formed.

Contract assets include as follows:

Current contract assets related to transportation of natural gas Total contract assets	Group
	At 31 December 2021 At 31 December 2020
	766 965
	766 965

10 Other financial assets

The Group's other financial assets as at 31 December 2021 consisted of monetary funds collected from extra charge on natural gas transmission price related to natural gas supply security, referred to as the LNG terminal funds, and the funds transferred by the exchange participants. Those funds are collected from the system users, kept on separate bank accounts for LNG terminal funds in compliance with the legal requirements, and are intended for payment to the recipients of the LNG terminal funds: the LNG terminal operator (Klaipėdos Nafta AB), the designated supplier (Ignitis UAB), and the Company to cover the administration costs of the LNG terminal funds. Based on Resolution No. O3E-1235 of 30 November 2020, an extra charge related to natural gas supply security was set to be effective during the period from 1 January 2021.

The advance payment funds received by gas exchange members as at 31 December 2021 are accounted for EUR 50,209 thousand (as at 31 December 2020 – EUR 8,670 thousand).

23

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Funds of the LNG terminal Funds transferred by the gas exchange members	Group Company
	At 31 December 2021 At 31 December 2020 At 31 December 2021 At 31 December 2020
	1,305 3 1,305 3
	50,209 8,670 - -
	51,514 8,673 1,305 3

The Group and the Company keeps its cash in the accounts of those banks, which meet reliability requirements.

11 Loans

Long-term loans Loans from credit institutions of Lithuania Loans from international financial institutions Short-term loans Loans from credit institutions of Lithuania Short-term loan (EPSO-G UAB) Current portion of long-term loans	Group Company
	At 31 December 2021 At 31 December 2020 At 31 December 2021 At 31 December 2020
	14,000 22,000 14,000 22,000 77,391 79,565 77,391 79,565 - - - - 3,284 7,852 3,284 7,852 10,174 10,174 10,174 10,174
	104,849 119,591 104,849 119,591

For the balancing of working capital on 27 February 2019 the Company and EPSO-G UAB entered into lending and borrowing via cash pool agreement, in which a maximum borrowing limit of EUR 15,000 thousand from EPSO-G UAB has been set. On 31 March 2020 an additional agreement was signed, which increased the maximum borrowing limit to 35,000 thousand euros and on 29 June 2020 according another supplementary agreement - to 40,000 thousand euros. As at 31 December 2021 according this agreement the Company’s borrowings amounted to EUR 3,284 thousand (as at 31 December 2020 – EUR 7,852 thousand).

As at 31 December 2021, the weighted average annual interest rate on borrowings of the Company and the Group was 0.34 percent (31 December 2020: 0.39 percent).

12 Contract liabilities

The funds from connection of new system users to the gas transmission system and advance amounts received from system users on transmission services are recognised as contract liabilities. Contract liabilities:

Non-current portion of contract liabilities Total non-current contract liabilities Current portion of contract liabilities Advance amounts received on transmission services Total current contract liabilities Total contract liabilities	Group
	At 31 December 2021 At 31 December 2020
	1,305 1,337
	1,305 1,337
	33 34 23 34 56 68
	1,361 1,405

24

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Contract liabilities under the new system users connection contracts

The funds from connection of new system users to the gas transmission system were in amount of EUR 1,338 thousand as at 31 December 2021 (31 December 2020: EUR 1,371 thousand), of which non – current contract liabilities under the connection contracts were in amount of EUR 1,305 thousand as at 31 December 2021 (31 December 2020: EUR 1,337 thousand). The contract liabilities to be recognised as revenue within one year are reported as current contract liabilities.

Contract liabilities included as follows: Opening balance at 31 December 2019 Received/receivable Recognised as revenue Reclassification Closing balance as at 31 December 2020 Received/receivable Recognised as revenue Reclassification Closing balance as at 31 December 2021	Group
	Non-current contract liabilities Current contract liabilities Total
	1,371 34 1,405
	- - - - (34) (34) (34) 34 -
	1,337 34 1,371 - - - - (33) (33) (32) 32 -
	1,305 33 1,338

13 Income tax

In 2021, the standard corporate income tax rate applicable to the companies of the Republic of Lithuania was 15 per cent (in 2020: 15 per cent). The income tax expenses for the period comprise the current income tax and the deferred income tax.

On investments in new technologies, as at 31 December 2021, the Company had calculated a corporate income tax relief amounting to EUR 3,878 thousand (as at 31 December 2020: EUR 5,888 thousand).

14 Trade payables

Payables to suppliers under investment programme (reconstruction and modernisation) Payables to suppliers of goods and providers of services Payables to providers of repairs services under non-current assets repairs programme Payables to suppliers of natural gas	Group Company
	At 31 December 2021 At 31 December 2020 At 31 December 2021 At 31 December 2020
	2,141 4,810 2,141 4,810 1,457 2,106 1,438 2,007 358 265 358 265 28,520 3,248 4,502 1,069
	32,476 10,429 8,439 8,151

As at 31 December 2021, the trade payables were interest-free and the payment terms of the largest share of them ranged from 30 to 60 days.

25

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

15 Received advanced payments and contract liabilities

Group Company

Current contract liabilities Grants received in advance Advance amounts received from gas exchange participants Other advance amounts received Total advance amounts received	At 31 December 2021 At 31 December 2020 At 31 December 2021 At 31 December 2020
	56 68 56 68 151 236 151 236 36,455 8,246 - - 622 8 622 8
	37,284 8,558 829 312

Prepayments received by the Group on 31 December 2021 was in amount of EUR 37,284 thousand (as of 31 December 2020 EUR - 8,558 thousand). There are the prepayments received from the EU for investment projects, contract liabilities under the contracts with customers, prepayments received from gas exchange members and the other amounts received in advance.

GET Baltic advance payments paid by the participants of Exchange are accounted for as prepayments received from the exchange participants and are used on the settlement date, unless a request is made from the participants not to use the advance paid for reduction of the amount due for gas and exchange services. An unused advance or part thereof remains with the other participant's settlements. If the participant does not use the advance for more than 1 year, it is returned to him.

16 Other payables and current liabilities

Payable LNG terminal funds administrated by the Company Accrued LNG terminal funds subject to administration by the Company1) Real Estate Tax payable Value Added Tax (VAT) payable Other payables	Group Company
	At 31 December 2021 At 31 December 2020 At 31 December 2021 At 31 December 2020
	12,259 10,670 12,259 10,670 2,406 2,175 2,406 2,175 838 453 838 453 637 582 235 278 406 465 390 405
	16,546 14,345 16,128 13,981

1)Accrued LNG terminal funds subject to administration by the Company are accounted when natural gas transmission system users are issued VAT invoices, Accrued funds subject to administration by the Company are included into the account of LNG terminal funds payable when AB “Klaipėdos Nafta” and UAB “Ignitis” issue a VAT invoice to the Company in respect of the security-of-supply-related extra tariff component added to the regular natural gas tariff.

17 Earnings per share

Basic earnings per share reflect the Group net profit divided by the weighted average number of shares. There are no diluting instruments, therefore basic and diluted earnings per share are equal. Calculations of the basic earnings per share are presented below:

26

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Net profit (loss) attributable to the shareholders (EUR thousand) Weighted average number of shares (thousand) Basic and diluted earnings (loss) per share (EUR)	Group
	For the period of twelve months ended 31 December 2021 For the period of twelve months ended 31 December 2020
	23,211 18,170 178,383 178,383
	0,13 0,10

18 Dividends

As at 23 April 2021 according to the decision of the Company’s ordinary general meeting of the shareholders no dividends were approved to distribute from the distributable profit.

At the general meeting of shareholders in 2020 and 2021 decisions for the profit distribution were adopted in accordance with the provisions of the dividend policy of the EPSO-G UAB group companies. Due to the increase in the need of the funds for investments, the distributable profit was left in the Company, taking into account the fact that the Company is implementing a large-scale strategic gas transmission connection project between Lithuania and Poland GIPL.

19 Commitments and contingencies

Litigations

Currently, the Company has initiated one civil case regarding the award of extra charge on the natural gas transmission price related to natural gas supply security (the LNG terminal funds) from Achema AB. The Company acts solely as an administrator of the LNG terminal funds and transfers the LNG terminal funds to their recipients only after collecting them from the buyers, and accordingly, the Company does not incur credit risk arising from the disputed amounts. The hearing of the above-mentioned civil case is still pending in the first instance Kaunas Regional Court. As at 11 January 2022 AB Achema fulfilled the court obligation and submitted a request for elimination of deficiencies and a revised counterclaim within the set term. The court has not yet set a date for the substantive hearing of the case.

20 Related party transactions

As at 31 December 2021 and 31 December 2020, the parent company was EPSO-G UAB. The parent country of the latter company was the Republic of Lithuania, represented by the Ministry of Energy of the Republic of Lithuania. For the purposes of related-party disclosures, the Republic of Lithuania does not include central or local authorities. Disclosures include transactions and balances with EPSO-G Group companies, subsidiaries, all statecontrolled companies or those under significant influence (transactions with such entities are disclosed separately only if the amount of transactions exceeds EUR 100,000 in a calendar year) and management, and close family members. A list of publicly-controlled entities or those under significant influence that are subject to disclosure is - - provided here: https://vkc,sipa,lt/apie imones/vvi sarasas/.

The Company's/Group’s related parties as at 31 December 2021 and 31 December 2020 were as follows:

• EPSO-G (the parent company), 100% of EPSO-G share capital is owned by the Ministry of Energy of the

• Republic of Lithuania;

Epso-G UAB Group companies:

• Litgrid AB (common shareholders);

• Tetas UAB (common shareholders);

• Baltpool UAB (common shareholders).

• The subsidiary of the Company GET Baltic UAB;

• Ignitis grupė UAB companies:

27

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

• Energijos skirstymo operatorius AB;

• Ignitis UAB;

• Ignitis gamyba UAB;

• Transporto Valdymas UAB;

• Energetikos paslaugų ir rangos organizacija UAB.

Other state-controlled companies:

• Klaipėdos nafta AB;

• State Enterprise Ignalina Nuclear Power Plant;

• State Enterprise Geoterma;

• Other state-controlled companies or those under significant influence.

• Management.

The tables below show the Group's and the Company's receivables and payables from related parties as at 31 December 2021 and 31 December 2020. Transactions with related parties are disclosed for the twelve-month period ended 31 December 2021 and 31 December 2020:

2021 year

Group

2021 year	Group
EPSO - G UAB TETAS UAB Ignitis Gamyba UAB Energijos Skirstymo Operatorius AB Ignitis UAB Transporto Valdymas UAB Klaipėdos Nafta AB State enterprise Ignalina Nuclear Power Plant Geoterma UAB Other state-owned enterprises	Acquisitions Sales Accounts receivable Loans granted Accounts payable Costs of financial operations
	110 - - 3,284 36 99 3 7 5 - - - 72 77,2962) 1,8972) - 4,927 - 197 509 69 - - - 72,6892) 39,0542) 3,0462) - 10,4612) - 405 - - - 44 - 27,7322) 4 - - 7,0052) - - 171 16 - - - - - 110 - - - 59 - - - 6 -
	101,267 117,041 5,143 3,284 22,479 99

2020 year

EPSO - G UAB TETAS UAB Ignitis Gamyba UAB Energijos Skirstymo Operatorius AB Ignitis UAB Transporto Valdymas UAB Klaipėdos Nafta AB State enterprise Ignalina Nuclear Power Plant Geoterma UAB Other state-owned enterprises	Acquisitions Sales Accounts receivable Loans granted Accounts payable Costs of financial operations
	130 - - 7,852 18 69 16 1 - - - - 72) 38,7262) 2,0682) - 2,365 - 188 468 49 - - - 54,4572) 35,8482) 3,0982) - 4,6932) - 358 - - - 41 - 35,7292) 2 - - 7,2402) - - 1602) 202) - - - - - 110 - - - 73 - - - 6 -
	90,958 75,205 5,345 7,852 14,363 69

28

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

2021 year GET Baltic UAB EPSO - G UAB TETAS UAB Ignitis Gamyba UAB Energijos Skirstymo Operatorius AB Ignitis UAB Transporto Valdymas UAB Klaipėdos Nafta AB State enterprise Ignalina Nuclear Power Plant Geoterma UAB Other state-owned enterprises 2020 year	Company
	Acquisitions Sales Accounts receivable Loans granted Accounts payable Costs of financial operations
	6,3191) 2,7901) 1501) 1,0361) - 110 - - 3,284 34 99 3 7 5 - - - 9 19,4272) 1,8972) - - - 197 508 69 - - - 42,0812)27,5502) 3,0462) - 8,0852) - 399 - - - 43 - 27,7322) - - - 7,0052) - - 171 16 - - - - - 110 - - - 59 - - - 6 -
	76,909 50,453 5,293 3,284 16,209 99

GET Baltic UAB EPSO - G UAB TETAS UAB Ignitis Gamyba UAB Energijos Skirstymo Operatorius AB Ignitis UAB Transporto Valdymas UAB Klaipėdos Nafta AB State enterprise Ignalina Nuclear Power Plant Geoterma UAB Other state-owned enterprises	Acquisitions Sales Accounts receivable Loans granted Accounts payable Costs of financial operations
	3,8701) 1091) 541) 3121) - 130 - - 7,852 18 69 16 1 - - - - 2 19,0632) 2,0682) - 1 - 188 467 49 - - - 29,6012)27,0042) 3,0972) - 4,1552) - 352 - - - 40 - 35,7292) - - - 7,2402) - - 1602) 202) - - - - 110 - - 67 - - - 6 -
	69,955 46,804 5,398 7,852 11,772 69

1) The Company is a participant of the Natural Gas Exchange operated by Get Baltic UAB and has a participation agreement. The agreement is on standard terms and the under the same terms and conditions as with the other participants. The amount represents the purchases and sales made through the Exchange. 2) LNG terminal funds included.

There have been no guaranties received to the revenue obtained and payable by the related parties. On 31 December 2021 the Company and Group did not form and accounted the depreciation of value to the revenue received from the related parties.

Benefits to the Management

enefits to the Management
Earnings-related benefits Benefits for Board Members	Group Company
	At 31 December At 31 December At 31 December At 31 December 2021 2020 2021 2020
	685 525 593 441 47 38 47 38
	732 563 640 479

29

AB AMBER GRID, company code 303090867, Laisvės ave. 10, Vilnius, Lithuania CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

The management of the Group and the Company is deemed to include the CEO, the Technical Director, the Legal and Administration Director, the Commerce Director, the Organisational Progress Director, and the CFO. No loans, guarantees were issued nor were any assets transferred to the management of the Group and the Company.

21 Subsequent events

Aiming to benefit on the synergies of the common EU gas market and to enable to offer the most advanced gas trading solutions to customers of the regional gas exchange GET Baltic, as at 1 February 2022 the Company was announced the tender for selection of strategic partner of the exchange. The Boards of the Company and the parent company EPSO-G UAB accepted the planned sale of the part of Get Baltic shares. The participant who meets the qualification requirements and offers the highest price for GET Baltic shares will be able to acquire a stake of 66% in GET Baltic.

30