KN Energies AB

Board/Management Information • Jan 5, 2026

Ministry of Energy announces selection of six candidates for the Board of AB KN Energies

Ministry of Energy announces selection of six candidates for the Board of AB KN Energies

On 5 January 2026, the Ministry of Energy of the Republic of Lithuania announced the selection of candidates for the members of the Board of AB KN Energies (hereinafter – the Company).

The selection of the members of the Board shall be carried out in accordance with the Description of the Selection of Candidates to the Board of the State Enterprise or Municipal Enterprise and the Selection of Candidates for the Collegial Supervisory or Management Body of the General Meeting of Shareholders of a State or Municipal Company, approved by Resolution No. 631 of the Government of the Republic of Lithuania of 17 June 2015. Following the completion of the candidate selection process, the Board will be elected by the Company’s General Meeting of Shareholders.

Currently, the Company operates under a two-tier management structure consisting of an independent Supervisory Council and an independent Board. The term of office of the Board expires on 25 April 2026.

August 2025 the Ministry, which manages 72.47 per cent of the Company’s shares, has submitted a letter of expectations setting out the objective of adapting the Company’s corporate governance model to ensure transparent, efficient, high-quality, and coordinated operations. To meet these objectives, it has been decided to optimise the Company’s management model, with the intention that, upon the expiry of the current Board’s term of office, the Company’s key management competencies will be concentrated in a single body – the Board.

Following the approval of the new wording of the Company’s Articles of Association, the Board will consist of six members, four of whom will be independent. For this purpose, a selection process for six Board members is being launched. Candidates selected to the Board may also be appointed as members of Board committees, taking into account the planned change whereby committees will be formed from Board members. Following an assessment of its members’ competencies, the Board will decide on appointments to the Remuneration and Appointment Committee and the Audit Committee.

Following the successful selection of the members of the Board, it is planned to appoint the Board for the new term of office at the Annual General Meeting of Shareholders on 30 April 2026. During the same meeting, it is planned to approve the new wording of the Company's Articles of Association, which will consolidate the one-tier management structure of the Company.

The announcement on the ongoing selection of the members of the Board has been published on:

• the website of the Ministry of Energy of the Republic of Lithuania: Career Announcements - Lietuvos Respublikos energetikos ministerija
• the website of the Company: https://knenergies.lt/en/ministry-of-energy-announces-selection-for-candidates-for-the-board-of-kn-energies/

Chief Corporate Affairs Officer

Jurgita Šilinskaitė-Venslovienė, j.vensloviene@kn.lt