KN Energies AB

Legal Proceedings Report • Mar 29, 2011

Disclosure 285934

Klaipedos Nafta AB - Notification on material event

“Klaipėdos nafta” AB terminates loading contract with “Naftos grupė” UAB

In order to finalise properly the procedure for terminating the contract with “Naftos grupe”, the company “Klaipėdos nafta” dispatched on March 29 to the company UAB „Naftos grupė“ a notification informing that it was terminating the contract concluded with this company on the transshipment of crude oil and oil products. The contract will be considered terminated legally 30 days from the date of the dispatch of the notification. “Klaipėdos nafta” states in the notification that, since September of the previous year, “Naftos grupė” has not been performing obligations provided for in the contract whereby “Naftos grupė” was granted exclusive rights to transship vacuum gas oil. Therefore, the contract is actually not being performed. After termination of the contract the disagreement between parties related to exclusive rights to “Naftos grupė” will be solved. Chief Financier Johana Bučienė, 8 46 391636