Litgrid AB - Audit Report / Information 2022

Concerning the opinion of the Audit Committee

Lithuanian electricity transmission operator LITGRID AB (business ID 302564383, registered office address Karlo Gustavo Emilio Manerheimo st. 8, Vilnius, Lithuania) informs that on the 11th January 2022 the opinion of the Audit Committee of the holding company UAB EPSO-G (hereinafter – EPSO-G) has been received regarding the intention to conclude the transaction between LITGRID AB and the related party UAB EPSO-G (hereinafter – the Transaction) on the transfer of tax losses of the year 2019 to LITGRID AB revoking the transferred losses.

On 11 January 2022, the Audit Committee of EPSO-G considered the Transaction and issued the opinion:

Compliance of the Transaction with market conditions is not assessed due to the reason that the Transaction is executed exclusively in accordance with requirements established in the Article 561 of the Law on Corporate Income Tax of the Republic of Lithuania, i. e. the Transaction could not be entered into with an entity other than EPSO-G group entity;
The Transaction is fair and reasonable with respect to all shareholders of LITGRID AB as the amount of tax losses of the year 2019 returned by EPSO-G will be disposed by LITGRID AB reducing the taxable income base due to the changes of the taxation principle of the congestion management income.

The individual authorized by LITGRID AB to provide additional information:

Jurga Eivaitė

Project manager

Communication Division

Phone: +370 613 19977

e-mail: [email protected]