Litgrid AB

AGM Information • Aug 16, 2022

Disclosure 411847

LITGRID - General meeting of shareholders

Decisions taken in the extraordinary general meeting of shareholders of LITGRID AB

The following decision were adopted in the extraordinary General Meeting of Shareholders of LITGRID AB (company code 302564383, registered office at Karlo Gustavo Emilio Manerheimo g. 8, Vilnius) on 16 August 2022:

1. Regarding approval of LITGRID AB Board’s decision of 22 July 2022 (minutes No. 16)

2. Approved to amend the material conditions of the contract “No 21VP-SUT-220 for design and work of reconstruction of the 330 kV air line Darbėnai - Bitėnai (LN 330) with AB „Kauno tiltai“ (legal entity code 133729589) ir UAB „LITENERGOSERVIS“ (legal entity code 302244515),

3. The Contract price – the amount of 7 727 226,02 EUR, exclusive of VAT, is allocated additionally for the performance of the Contract; the total Contract price is 54 657 226,02 EUR, exclusive of VAT.

4. 3.4. point of Pricing rules is laid down as follows:

"If the value of the price index of construction cost elements published by the Statistics Department of the Republic of Lithuania (www.stat.gov.lt) "All construction costs" (hereinafter - the Index) within 6 months or longer, which is calculated from the conclusion of the Agreement (or from the last price of the Agreement recalculation due to a change in the Index, if the Contract price was recalculated), changed by 5% or more, the Contract price may be recalculated at the initiative of any of the Parties. The recalculation of the contract price is not based on the Index published by the Statistics Department of the Republic of Lithuania, but on individual materials and products ("concrete and reinforced concrete products", "concrete and mixtures", "electrotechnical materials", "metal products", "pipes"), "machines and mechanisms labour', 'wages and overheads' indices' (hereinafter - Conversion indices)."

• 3.8. point of Pricing rules is laid down as follows:

"For the first recalculation of the Contract price, it is used the month of the Contract conclusion, i.e. in 2021 November, conversion indices. In case of subsequent recalculations, the value of the Index at the beginning of the period shall be as it was the value of the Index at the end of the period (as specified in the Agreement)."

1. To authorise the CEO of LITGRID AB to make decision, without a separate decision of the Board of LITGRID AB, regarding the change of the essential condition of the Contract - the Contract price - by reducing the price without any restrictions or by increasing the price by entering into agreements on the acquisition of additional works and/or on a reasonable increase in the prices of materials/equipment, if the total amount of all agreements on the prices of additional work does not exceed 10% (that is, 5 465 722,6 EUR, exclusive of VAT) of the original Contract price.

2. To oblige the CEO of LITGRID AB to inform the Board, before making such a decision, by e-mail of the decisions made in Point II. of this Decision regarding the amendment of the material condition of the Contract.

   The individual authorized by LITGRID AB to provide additional information on the material event:

   Lukrecijus Tubys Communications Manager

   tel. +370 616 20036

   e-mail: lukrecijus.tubys@litgrid.eu