KN Energies AB

AGM Information • Jul 29, 2016

Draft decisions of the extraordinary general meeting of shareholders of AB Klaipėdos nafta to be held on 22 August 2016

On 29 July 2016 the Board of AB Klaipėdos nafta, legal entity code 110648893, registered at Buriu st. 19, Klaipeda (hereinafter referred to as the Company), decided, inter alia:

To approve the following draft decisions of the extraordinary general meeting of shareholders, to be held on 22 August 2016, with respect to the following matter on the agenda:

1. Regarding the approval of the decision of AB Klaipėdos nafta Board to implement II stage of AB Klaipėdos nafta oil terminal expansion (supplementary railway track and trestle, expansion of light oil product tanks) investment project.

"To approve the decision of AB Klaipėdos nafta Board:

1. To implement II stage of oil terminal expansion (supplementary railway track and trestle, expansion of light oil product tanks) investment project of AB Klaipėdos nafta, for the price not exceeding 49,4 mln. EUR (without VAT), and the reserve of 10 percent, which can be used only on extraordinary circumstances."

2. To establish that the aforementioned decision comes into force only if it is approved by the general meeting of the shareholders of AB Klaipedos nafta, as of the day of adoption of such decision of the general meeting of the shareholders.'

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