May 28, 2015

Management Report

The types of activities performed by the JSC “Brivais Vilnis” are processing and canning of fish and fish products, wholesale of food products, including fish, shellfish and mollusc, and other commercial activities classified nowhere else.

Year 2015 is the 24^th year of operation since the Company was transformed into a Joint Stock Company. In the 1^st quarter of 2015 the Company produced a total of 4.9 million cans of various types (125) of fish products, including 2.3 million cans of sprat. 3.8 million cans were sold for EUR 2.1 million.

The financial result of the reporting period is profit of EUR 47 521, this profit is from economic activities of the Company.

As previously reported, the Company stopped the production as from 18.05.2015 due to raw material shortage and low sales in the Russian Federation and Central Asia countries. Other structural units continue the work on the repair of equipment and facilities. The Company continues to work on looking for new sales markets in Western Europe, North America, South America and rest of the world. The Company works on introduction of innovative packaging.

The Company’s goal is to continue transformation in accordance with the EU quality requirements, real decrease the production expenses.

The JSC „Brivais vilnis” makes production only from natural raw materials, completely excluding modified raw materials, favor and color enhancer and preservatives in production. The high quality of products is the key that allows the JSC „Brivais vilnis” to be competitive in canned fish market.

The Company plans to restart the production in August, 2015.

The JSC “Brivais Vilnis” will continue cooperation with the “NASDAQ OMX Riga” JSC and remain listed in the free list of stock exchange in 2015.

Arnolds Babris

Chairman of the Board