Ignitis Grupe

Board/Management Information • Jun 15, 2021

National Storage Mechanism | Additional information

Initiated selection process for the positions of independent members of AB “Ignitis grupė*” Supervisory Board*

AB “Ignitis grupė” (hereinafter – Company) informs that on 15 June 2021 the Ministry of Finance of the Republic of Lithuania (hereinafter – Ministry of Finance), which owns 73.08% of Company’s shares, announced a selection for the positions of five independent members in the Company’s Supervisory Board, considering that the term of office ends on 29 August 2021.The selected candidates will have to be approved in the General Meeting of Shareholders.

The selection of candidates for the independent members of the Company’s Supervisory Board will be conducted by the agency conducting manager and managing personnel recruitment UAB “J. Friisberg & Partners”, together with the partners of the network J. Friisberg and Partners International.

The Company’s Supervisory Board comprises seven members in total: five independent members and two representatives of the Ministry of Finance. The Ministry of Finance will delegate the representatives of the Ministry of Finance for the next term of the Company’s Supervisory Board in accordance with the resolution of the Government.

The advertisement about the conducted selection of the Supervisory Board members and the requirements set out for the independent members of the Supervisory Board is published on the Company’s website (link). The members will be selected according to general expectations and competences established in the profile of competences of the Supervisory Board (link).

The principles of composition of the Company’s Supervisory Board are formulated considering the good governance example and practices of foreign states related to forming a collegial body. Based on it, collegial bodies of companies (groups of companies) should comprise members with various competences, while the actual collegial body should comprise enough members to ensure the entirety of competences necessary in the company’s business segments.

The Company will inform about further actions related to the selection of the independent members of the Supervisory Board in accordance with the procedure set out in legal acts.

For additional information please contact:

Lukas Zadarackas

Public Relations Manager at Ignitis Group

lukas.zadarackas@ignitis.lt

+370 687 48080