Ignitis Grupe — Investor Presentation 2020

May 8, 2020

Investor presentation

Full-year 2019

Disclaimer

This presentation contains certain forward looking statements, including but not limited to, the statements and expectations contained in the "Outlook 2020" section of this presentation. Statements herein, other than statements of historical fact, regarding our future results of operations, financial condition, cashflows, business strategy, plans and future objectives are forward-looking statements. Words such as "forecast", "expect", "intend", "plan", "will", "may", "should", "continue", "predict" or variations of these words, as well as other statements regarding matters that are not historical factor regarding future events or prospects, constitute forwardlooking statements.

Ignitis Group have based these forward-looking statements on its current views with respect to future events and financial performance. These views involve a number of risks and uncertainties, which could cause actual results to differ materially from those predicted in the forward-looking statements and from the past performance of Ignitis Group. Although, Ignitis Group believes that the estimates and projections reflected in the forward-looking statements are reasonable, they may prove materially incorrect and actual results may materially differ due to a variety of factors, including, but not limited to market risks, development of construction and production assets, regulatory risks, operation of power plants and wind farms, prices of electricity and gas. As a result you should not rely on these forward-looking statements. Please also refer to the overview of risk factors in "Risk factors and it's management" on p. 66 of the 2019 annual report, available at www.ignitisgrupe.lt.

Unless required by law, Ignitis Group is under no duty and undertakes no obligation to update or revise any forward-looking statement after the distribution of this presentation, whether as a result of new information future events or otherwise.

Alternative Performance Measures (APMs) - refer to the adjusted figures used for internal performance management. As such, they are not defined or specified under International Financial Reporting Standards (IFRS), nor do they comply with IFRS requirements. For the descriptions of APMs please refer to "Results" on p. 37 of the 2019 annual report, available at www.ignitisgrupe.lt.

Because of the restatement of the 2018 financial statements, performance indicators presented in this presentation for 2018 might differ from those presented in the 2018 presentation. For the changes of the financial statements of 2018 please refer to the "Consolidated and the Company's financial statements" on p. 163- 171, for the changes of operating segments on p. 217 of the 2019 annual report, available at www.ignitisgrupe.lt. In case of a change of calculation of APM in 2019, measures of 2018 were recalculated as to calculation of 2019.

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Darius Maikštėnas Chairman of the Board, CEO

Darius Kašauskas Member of the Board, CFO

II Results 2019

III Outlook 2020

IV Q&A

Darius Maikštėnas, CEO

Ignitis Group

Creating an Energy Smart world

One of the largest energy groups in the Baltic region.

Positioning to become international energy group creating an Energy Smart world.

Main businesses – Networks (electricity dominant) and Green Generation.

Also engaged in complementary Flexible Generation, and Customers and Solutions businesses.

Highlights 2019

Adjusted EBITDA

221.3 259.6 2018 2019 EURm

Strong financial performance

• +17.3% − Adjusted EBITDA increased by 17.3% and reached the highest ever EUR 259.6 million.
• − Growth across all segments.
• − Key contributors were:
  • − Networks investments resulting in higher RAB
  • − Expansion of Green Generation portfolio
  • − Better result of Kruonis PSHP.
  • − Isolated network testing services related to the synchronization of the Baltic countries with the continental European network.

Key accomplishments

Group

• − Completed rebranding.
• − Committed to become carbon neutral by 2050.

Networks

− NERC approved Investments of EUR 147 million for the smart meter project. 1.2 million smart meters will be installed by the end of 2023.

Green Generation

• − Acquired and began construction of our first wind farm project in Poland (94 MW).
• − First fire in Kaunas CHP, whereas 70% of Vilnius CHP construction is finished.

Customers and Solutions

• − Consolidated all our Customers and Solutions businesses under a single legal entity.
• − Launched the first nationwide remote solar platform in the world "Solar Parks".
• − Launched the first 59 network of EV fastcharging stations in Vilnius, Lithuania.
• − Entered the Finnish gas market and reached 15% market share (Q1 2020).

2019 results better than expected

Green Generation

• − Effective utilization of fluctuations in electricity prices by Kruonis PSHP.
• − Favorable wind conditions in Lithuania and Estonia.
• − OPEX savings of Vilnius CHP due to the minor construction delay.

Flexible Generation

• − Lower dismantling project costs.
• − Positive fuel oil reserves sale result.

Operating segments

Ensuring sustainable value creation

Networks

Natural monopoly of electricity and gas distribution networks in Lithuania

• − In 2019 The National Energy Regulatory Council approved two investments of EUR 177.5m for the period of 2020-2023: implementation of smart electricity metering - EUR 147m, and modernization and development of electricity distribution networks by implementing smart solutions - EUR 30.5m.
• − Updated 10-year investment plan of EUR 1.83bn with focus on three main directions during 2019-2028: network reliability, smart network, and customer experiences together with market facilitation.

Geographies

Share of Adjusted EBITDA

70%

	2019	2018	∆,%
Adjusted EBITDA, EURm	180.5	168.8	6.9
Adjusted net profit, EURm	73.3	83.1	-11.8
Investments, EURm	181.4	271.3	-33.1
RAB, EURm	1,631	1,416	15.2
Electricity RAB, EURm WACC, % Distributed volumes, TWh New connection points and upgrades, units SAIDI, min.	1,404 5.0 9.55 40,151 91.79	1,227 4.9 9.59 30,976 81.37	14.4 0.1 -0.4 29.6 12.8
SAIFI, units	1.31	1.14	14.7
Gas
RAB, EURm	227	189	20.1
WACC, %	3.6	7.1	-50.0
Distributed volumes, TWh	6.97	7.60	-8.4
New connection points and upgrades, units	11,793	14,741	-20.0
SAIDI, min.	1.25	0.61	106.2
SAIFI, units	0.008	0.006	35.9

9

Green Generation

One of the biggest players within Baltics

Highlights 2019 Key metrics

• − Portfolio increased by 94 MWe, or 6.0% as a result of acquisition and beginning of construction of our first wind farm in Poland, which is one of the largest in the country.
• − With the first fire, Kaunas CHP (24 MWe, 70 MWth) entered the final stage of preparation for operation start.
• − 70% of Vilnius CHP (92 MWe, 229 MWth) construction is finished.
• − Continued the development of 63 MWe onshore wind farm in Lithuania and launched a tender for wind turbines.

Geographies Share of Adjusted EBITDA

	2019	2018	∆,%
Adjusted EBITDA, EURm	43.4	38.1	14.1
Adjusted net profit, EURm	25.8	22.1	16.5
Investments, EURm	256.5	132.8	93.1
Green share of generation, %	97.7	93.4	4.6
Electricity generated, TWh	1.04	0.94	10.0
Wind	0.23	0.13	81.4
Hydro	0.81	0.82	-1.1
Wind farms availability, %	97.8	99.1	-1.1
Wind farms load factor, %	34.2	27.9	6.0
Capacity, MW
Electricity	1,350	1,256	7.5
Installed	1 ,077	1,077	0
Under construction	210	116	81
Under development	6 3	63	0
Heat	339	339	0
Installed	40	40	0
Under construction	299	299	0
Under development	0	0	0

Green Generation

Total capacity of 1,350 MWe and 339 of MWth

Operating

Name		Capacity (MWe)	Capacity (MWth)	Country
Kruonis PSHP		900	-	LT
Kaunas A. Brazauskas HPP		101	-	LT
Eurakras		24	-	LT
Vėjo gūsis		19	-	LT
Tuuleenergia		18	-	EE
Vėjo vatas		15	-	LT
Elektrėnai biomass boiler		-	40	LT
Total		1,077	40

Flexible Generation

Ensuring system stability

• − Continued to contribute to the synchronization of the Baltic States with the network system of Continental Europe.
• − 7-8 units of Elektrėnai Complex provided isolated system test services in 2019.
• − 7-8 units of Elektrėnai Complex has won the auction of the tertiary active power reserve and will ensure power grid reliability within the scope of 475 MW in 2020. While CCGT – will provide isolated system operation service in 2020.

Geographies Share of Adjusted EBITDA

8%

	2019	2018	∆,%
Adjusted EBITDA, EURm	22.0	13.3	65.4
Adjusted net profit, EURm	10.6	-2.3	554.7
Investments, EURm	0.4	1.5	-70.2
Electricity generated, TWh	0.02	0.07	-63.2
Tertiary active power reserve, MW	260	260	0
Isolated system servise, MW	520	0
Installed capacity, MW
Electricity	1,055	1,055	0
Heat	50	50	0

Customers & Solutions

Energy Smart solutions for businesses and households

• − Consolidated all Customers and Solutions businesses under a single legal entity.
• − Launched first in the world nationwide remote solar platform "Solar Parks", providing opportunity for any household in Lithuania to generate solar power. The platform is open to all solar power plant developers. 468 households reserved 1,669 kW in 2019.
• − The first 59 Ignitis ON fast-charging stations for electric vehicles were launched in Vilnius.

	2019	2018	∆,%
Adjusted EBITDA, EURm	10.7	6.7	59.8
Adjusted net profit, EURm	-1.1	0.8	-231.6
Electricity sales, TWh
Retail	5.40	5.40	0.1
Lithuania	4.56	4.71	-3.1
Latvia	0.83	0.69	20.7
Wholesale trading	4.71	0.70	574.7
Gas sales, TWh	9.83	11.33	-13.2
Retail	8.01	10.91	-26.6
Lithuania	6.74	10.23	-34.1
Latvia	1.27	0.68	86.2
Wholesale	1.82	0.43	323.3

COVID -19

Ensuring business continuity while managing risks

• − Crisis management team assembled.
• − Allocated all appropriate protection (e.g. respirators, hand sanitizers) and necessary to work remotely devices (e.g. VPN access, PC monitors).
• − Terminated non -critical activities until further notice: closed customer service branches, canceled some field operations, suspended disconnection from the grid, etc.
• − Supporting community: preferential payment terms applied to the most affected, no self -service fees applied.
• − The duration of the quarantine announced in Lithuania and the restrictions imposed by foreign states may affect the targets and financial. However, the potential impact currently cannot be reasonably estimated.

Total employees	3,761
Working remotely	2,299
Quarantined employees	102
COVID -19 cases	3
Personal protection
Respirators distributed	64,000
Medical masks	24,000
Disinfectant	6,000

Focus on ESG

Our delivery over time by taking actions now

Green Generation capacity expansion

In 2019, 97.7% of energy generated was green.

Ignitis Group targets to reach 3 GW of Green Generation capacity by 2030.

CO2 neutral by 2050

Ignitis Group joined the Initiative of the United Nations and other international organizations "Business Ambition for 1.5°C" in 2019 and committed to reduce net carbon dioxide (CO2) emissions to zero by 2050.

Efforts for a greener planet Supporting global initiatives Strengthening governance

Supporting the Global Compact

Ignitis Group supports ten principles of the Global Compact, which define business responsibility in the areas of human rights, labor, the environment and anti-corruption.

Strong commitment to United Nations' Sustainable Development Goals (SDGs)

Ignitis Group focuses on five SDG's listed below. However, we are contributing to the achievement of almost all SDGs.

Ignitis Group is Lithuania's governance index leader since 2017. The monitoring and recognition is assigned by the Governance Coordination Centre.

In 2019, Ignitis Group
received an award by
Nasdaq for the best bond
issuer investor relations.

Number of Supervisory Board members has been increased from 5 to 7 (5 independent members, including the Chairman, and 2 representatives of the Ministry of Finance).

I Overview of 2019

II Results 2019

Darius Kašauskas, CFO

Profits and returns

Growth across all key performance indicators

• − Led by the growing number of new connection points and upgrades in the distribution network, and continued distribution network renewal investments.
• − Increased portfolio of wind farms.
• − Efficient use of Kruonis PHSP by utilizing fluctuations in electricity prices.

Key driver of Adjusted Net profit growth was Adjusted EBITDA increase, which was partly offset by:

• − Higher D&A expenses due to higher investments, revaluation of distribution network, and impact of IFRS 16.
• − Higher impairments and write-offs of non-current assets.
• − Higher financial expenses due to increased financing of investments.

Higher net profit led to an increase in Adjusted return on equity, exceeding the target of 6,6%.

ROE

Adjusted ROE

Cash flow and balance sheet

FFO/Net debt improved, despite record level Investments

• − Continued construction of Vilnius and Kaunas CHPs.
• − Started building our first wind farm in Poland.

The main factor for this increase was financing of investments in Vilnius and Kaunas CHP projects, as well as Pomerania wind farm, which were mainly funded by debt.

FFO / Net debt improved from 17.8% to 19.3%, as FFO growth outpaced that of Net debt.

Development of Adjusted EBITDA

Adjusted EBITDA grew across all segments

Investments

Green Generation and Networks accounted for the majority of investments

Green Generation:

• − Investments increased to EUR 256.5 million in 2019 and were EUR 123.7 million higher than in 2018.
• − Major contributor to that were increased investments in construction of Vilnius and Kaunas CHPs from EUR 113.4 million in 2018 to EUR 205.6 million in 2019. In addition to that, in 2019 we acquired 100% shares of Pomerania, 94 MW wind farm project in Poland, and started the construction.

Networks:

• − Investments amounted to EUR 181.4 million and were lower by EUR 89.9 million compared to 2018.
• − Decrease was mainly driven by lower investments in renewal of the electricity distribution network (EUR 44.5 million in 2019, down from EUR 121.5 million). Investments in the expansion of the electricity and gas distribution network also slightly decreased.

Net debt and debt ratios

Record investments led to increase in net debt

Net debt development EURm

Net debt ratios Times, %

3.72

Net debt/Adjusted EBITDA

FFO/Net debt

19.3%

Accounting policy changes and correction of error

Main accounting policy changes and correction of accounting error EURm

Financial impact EURm

Company	Description of changes	Effect on revenue	Effect on expenses	Effect on Adj. EBITDA
ESO	Changed the accounting treatment of new customer connection fees by deferring all gas and electricity fees over the useful lives of the related assets
ESO, IGN	Changed the accounting treatment of PSO services, LNG terminal security component collected from customers, revenues of electricity transfer and gas distribution services in Latvia – revenues and expenses from these services are now offset
IPL	Correction of accounting error – revenues and expenses from electricity trading activities are now offset

	2018 Audited	Corrections	2018 Restated
Revenue	1,254.2	-184	1,070.1
Expenses	-974.5	180	-768.5
Adjusted EBITDA	225.2	-5	220.6

22

I Overview of 2019

II Results 2019

Darius Kašauskas, CFO

Guidance for 2020

300 259.6 250 200 150 100 50
0 Adjusted EBITDA 2019 -50	Networks	Green Generation		Flexible Generation	Customers and Solutions	Other	Guidance on Adjusted EBITDA 2020
Networks	Green Generation			Flexible Generation	Customers and Solutions		Other activities
Adjusted EBITDA will continue to increase due to continued investments program.	Green Generation adjusted EBITDA is expected to be higher mainly due to completion		Adjusted EBITDA forecasted to decrease due to changes in regulated activity scope.		Results from gas supply activities in Finland are expected to offset the potential		EBITDA decrease is forecasted as a result of divestment of non-core activities.
Enhancement of quality and efficiency of distribution activities will continue to be pursued in the future by:	of Kaunas CHP in 2020.			The focus is on maintaining, modernizing and developing local reliable power generation capacity and contributing to the	negative effect from fluctuations in electricity prices.
− Smart meter roll out and digitization projects.			synchronization of the Baltic countries with the continental European network.
− Improving service quality and customer satisfaction.

I Review 2019

II Results 2019

III Outlook 2020

Q&A

Appendices

Balance sheet & Income statement

EURm	31 Dec 2019	31 Dec 2018
Property, plant and equipment	2.348	2091
Other non-current assets	423	320
Total non-current assets	2.771	2.411
Inventories	47	43
Trade receivables	118	143
Other current assets	90	63
Cash and cash equivalents	132	128
Assets held for sale	41	66
Total current assets	428	443
TOTAL ASSETS	3.198	2,854
Total equity	1.349	1.303
Non-current loans and bonds	822	735
Non-current lease liabilities	33	14
Grants and subsidies	268	209
Other non-current amounts payable and liabilities	227	211
Total non-current liabilities	1.350	1.169
Current loans	234	110
Lease liabilities	8	5
Trade payables	79	93
Other current amounts payable and liabilities	178	175
Total current liabilities	499	383
Total liabilities	1.849	1.551
TOTAL EQUITY AND LIABILITIES	3.198	2.854

EURm	2019	2018
Revenue	1,091	1.070
COGS	-735	-795
Depreciation and amortization	-110	-88
Salaries and related expenses	-87	-80
Repair and maintenance expenses	-30	-21
Revaluation of property, plant and equipment	-1	-68
Impairment (reversal of impairment) of amounts receivable and loans	0	-10
Impairment of property, plant and equipment	-9	-3
Other expenses	-37	-26
Total operating expenses	-1,008	-1,091
EBITDA	207	145
Adjusted EBITDA	260	221
EBIT	83	20
Adjusted EBIT	150	134
Net financial activity	-17	-14
Profit (loss) before tax	66	-34
Current year income tax (expenses)/benefit	-7	-5
Deferred income tax (expenses)/benefit	0	17
Net profit (loss)	59	-22
Adjusted net profit	106	99

Key financial indicators

		2019	2018	∆	∆,%
Revenue	EURm	1,090.6	1,070.1	20.6	1.9%
EBITDAAPM	EURm	206.8	145.3	61.5	42.3%
EBITDA margin APM	%	19.0%	13.6%	-	-
Adjusted EBITDA APM	EURm	259.6	221.3	38.3	17.3%
Adjusted EBITDA margin APM	%	23.8%	20.7%	-	-
EBIT APM	EURm	82.8	-20.4	103.2	506.0%
Adjusted EBIT APM	EURm	149.7	133.6	16.1	12.1%
Net profit	EURm	59.0	-22.0	80.9	368.4%
Adjusted net profit APM	EURm	106.0	99.0	7.0	7.1%
Investments APM	EURm	455.7	429.3	26.4	6.1%
FFO APM	EURm	187.0	131.4	55.6	42.3%
FOCF APM	EURm	-196.2	-206.9	10.7	5.2%
		2019.12.31	2018.12.31*	∆	∆,%
Total assets	EURm	3,198.1	2,853.9	344.2	12.1%
Equity	EURm	1,348.6	1,302.5	46.1	3.5%
Net debt APM	EURm	966.5	736.0	230.5	31.3%
Net working capital APM	EURm	-1.4	-19.2	17.8	92.9%
ROE APM	%	4.4%	-1.7%	-	-
Adjusted ROE APM	%	8.0%	7.5%	-	-
ROCE APM	%	3.8%	-1.1%	-	-
Adjusted ROCE APM	%	6.9%	7.0%	-	-
Net debt/EBITDA APM	times	4.67	5.07	-	-
Net debt/Adjusted EBITDA APM	times	3.72	3.33	-	-
FFO/Net debt APM	%	19.3%	17.8%	-	-

Key operating indicators

		2019	2018	∆	∆,%
Electricity
Electricity distributed	TWh	9.55	9.59	-0.04	-0.43%
Electricity generated	TWh	1.06	1.01	0.05	5.26%
Green share of generation	%	97.68%	93.38%	-	4.61%
Green electricity generated	TWh	1.04	0.94	0.10	10.03%
Green Generation capacity	MW	1,350	1,256	94.00	7.48%
Green Generation installed capacity	MW	1,077	1,077	0.00	0.00%
Green Generation projects under construction	MW	210	116	94.00	81.03%
Green Generation projects under development	MW	63	63	0.00	0.00%
Electricity sales in retail market	TWh	5.86	5.91	-0.05	0.84%
Lithuania	TWh	5.03	5.22	-0.19	-3.58%
Latvia	TWh	0.83	0.69	0.14	20.73%
Electricity sales in wholesale market	TWh	4.71	0.70	4.01	574.72%
New connection points and upgrades	units	40,151	30,976	9,175	29.62%
SAIDI	min.	91.79	81.37	10.42	12.81%
SAIFI	units	1.31	1.14	0.17	14.74%
Gas
Gas distributed	TWh	6.97	7.60	-0.64	-8.39%
Gas sales	TWh	9.83	11.33	-1.50	-13.22%
New connection points and upgrades	units	11,793	14,741	-2,948	-20.00%
SAIDI	min.	1.25	0.61	0.64	106.23%
SAIFI	units	0.008	0.006	0.00	35.93%

Reconciliation of Adjusted EBITDA 2019

Reconciliation of Adjusted net profit 2019

EBITDA and Net profit adjustments

Net profit adjustments

EURm

	2019	2018	∆	∆,%
Net profit	59.0	-22.0	80.9	368.4
Adjustments
Temporary regulatory differences	31.7	81.5	-49.8	-61.1
Temporary fluctuations in fair value of	16.8	-14.9	31.7	213.0
derivatives
Cash effect of new connection points	16.1	12.5	3.6	29.0
and upgrades
Material one-off non-cash asset	0.0	79.1	-79.1	-100.0
revaluation, impairment and write-off
effects
Other adjustments	-12.7	-13.4	0.8	5.8
Adjustments' impact on income tax	-5.0	-23.8	18.8	79.0
Total adjustments	47.0	120.9	-73.9	-61.1
Adjusted net profit APM	106.0	99.0	7.0	7.1

EBITDA adjustments

EURm

2019	2018	∆	∆,%
206.8	145.3	61.5	42.3
31.7	81.5	-49.8	-61.1
			213.0
16.1	12.5	3.6	29.0
			-281.3
52.8	76.0	-23.2	-30.5
259.6	221.3	38.3	17.3
	16.8 -11.8	-14.9 -3.1	31.7 -8.7

Retrospective Revenue adjustments

EURm

Segment	2018 (revised)	2018 (reported)	Adjustment
Networks	47,865	79,807	(31,942)
Flexible generation	(4,449)	-	(4,449)
Green generation	(2,721)	-	(2,721)
Customers and Solutions	37,023	(5,805)	42,828
Other segments	(4,526)	-	(4,526)
Consolidation adjustments	1,408	-	1,408
Total	74,600	74,002	598

33

Impact of new accounting criteria for IFRS16

Debt overview

Gros debt structure as at 31 Dec 2019 %

Bonds Loans (incl. Financial lease)

Borrowings repayment schedule EURm

	Average interest rate (%)	Effective interest rate (%)	Average time to maturity (years)	Outstanding amount as at 31 December 2019 (EURm)
Bonds	1.9%	1.9%	7.5	600.0
Bank loans	0.9%	0.9%	5.5	460.7
Total	1.0%	1.0%	5.8	1,060.7

Green bonds

Green Bond issues				Allocated amount by the issue
Issue	2017	2018	EURm	2017	2018	Total
Rating	S&P: BBB+	S&P: BBB+	Projects	294	166	460
Face value	300	300	Wind farms	71	22	93
ISIN	XS1646530565	XS1853999313	Biomass and waste-to energy plants	57	16	72
Maturity	14 July 2027	10 July 2028	Electricity distribution network	166	125	291
Tenor	10-year	10-year	Solar PV (small scale)	-	2	2
Coupon	2.000%, annual	1.875%, annual	ESCO (city lighting)	-	1	1
Type	Senior unsecured	Senior unsecured	Categories	294	166	460
Listing	Luxembourg Stock Exchange, NASDAQ Vilnius Stock Exchange		Renewable energy	71	24	95
Allocated proceeds in 2017	294	-	Pollution prevention, control	57	16	72
Allocated proceeds in 2018	-	166	Energy efficiency	166	126	292
Unallocated amount	-	134	Clean transportation	-	-	0

*During 2019 no amounts were allocated.

Green Generation assets

	Country	Technology	Capacity (MWe)	Capacity (MWth)	COD	Support scheme	Tariff (EUR/MWh)	End of support
Operating			1,077	40
Kruonis PSHP	LT	Hydro pumped storage	900	-	1992	-	-	-
Kaunas A. Brazauskas HPP	LT	Hydro	101	-	1960	-	-	-
Eurakras	LT	Wind	24	-	2016	FiT	71.0	2027
Vėjo gūsis	LT	Wind	19	-	2010	FiT	86.9	2023
Tuuleenergia	EE	Wind	18	-	2013-2014	FiP	53.7	2026
Elektrėnai compex	LT	Biomass	-	40	2015	-	-	-
Vėjo vatas	LT	Wind	15	-	2011	FiT	86.9	2022
Under development/construction			273	299
		Biomass	73	169
Vilnius CHP	LT	Waste	19	60	2021	-	-	-
Kaunas CHP	LT	Waste	24	70	2020	-	-	-
Pomerania	PL	Wind	94	-	2020-2021	CfD	47.2*	2035
VVP Investment	LT	Wind	63	-	2022	-	-	-
Total			1,350	339

*As per PLN/EUR (4.5505) exchange rate on 6th May 2020.

Current regulatory framework in Lithuania

	Networks	Green Generation	Flexible generation	Customers and Solutions	Total
RAB 2019, EURm	1,631	41	175	-	1,847
WACC real, pre tax 2019
Electricity	5.0%	5.0 %	5.0%	-	-
Gas	3.6%	-	-	-	-
Regulatory Period Length, years	5	1	1	-	-
Next Regulatory Period
Electricity	2022-2026				-	-
Gas	2024-2029	2021	2021	-	-

Glossary

%	Per cent
bn	Billion
CCGT	Combined cycle gas turbine
CEO	Chief executive officer
CfD	Contract for difference
CFO	Chief financial officer
CO2	Carbon dioxide
COD	Commercial operation date
COVID-19	Coronavirus disease 2019
D&A	Depreciation and amortization
EBITDA	Earnings before interest, taxes, depreciation and amortization
EE	Estonia
ESO	AB "Energijos skirstymo operatorius"
etc.	et cetera
EURm	million EUR
EV	Electric vehicle
FFO	Funds from operations
FiP	Feed-in Premium
FiT	Feed-in Tariff
Ignitis Group	Group companies of UAB "Ignitis Group"
IFRS	International Financial Reporting Standards
IGN	UAB "Ignitis"
Investments	Acquisition of property, plant and equipment and intangible assets, acquisition of shareholdings
IPL	Ignitis Polska sp. z o.o.
ISIN	International Securities Identification Number
Kaunas A. Brazauskas HPP	Kaunas Algirdas Brazauskas Hydroelectric Power Plant
Kaunas CHP	UAB "Kauno kogeneracinė jėgainė"
Kruonis PSHP	Kruonis Pumped Storage Hydroelectric Plant

kW	Kilowatt
LNG	Liquefied natural gas
LT	Lithuania
LV	Latvia
m	Million
min.	Minute
MW	Megawatt
MWe	Megawatts electric
MWh	Megawatt hour
MWth	Megawatt thermal
NERC	The National Energy Regulatory Council
New connection points and	Number of new customers connected to the network and capacity upgrades
upgrades	of the existing connection points
NWC	Net working capital
OPEX	Operating expenses
PPE	Property, plant and equipment
PSO	Public service obligation
Q&A	Question and answer
RAB	Regulated asset base
ROA	Return on asset
ROE	Return on equity
SAIDI	Average duration of unplanned interruptions in electricity or gas
	transmission
SAIFI	Average number of unplanned long interruptions per customer
TWh	Terawatt-hour
Vilnius CHP	UAB "Vilniaus kogeneracinė jėgainė"
VPN	Virtual private network
WACC	Weighted average cost of capital
WtE	Waste-to-energy

More about Ignitis Group

aine.riffel@ignitis.lt Green Bond Framework Investor Calendar Corporate Governance Strategy Annual & Interim reports

IR contacts

Ainė Riffel

Senior analyst, investors relations and M&A