1. Conversion of registered shares into bearer shares
1) Convert 12 408 955 VALMIERAS STIKLA ŠĶIEDRA JSC closed issue registered shares with a EUR 1.40 nominal value each, which confer identical rights to receive dividends and liquidation quotas and to have voting rights at the general shareholder meeting into 12 408 955 dematerialized bearer shares with a EUR 1.40 nominal value each which confer identical rights to receive dividends and liquidation quotas, and voting rights at the general shareholder meeting.
2) Authorize the Board of VALMIERAS STIKLA ŠĶIEDRA JSC to perform the activities required for registering the converted 12 408 955 dematerialized bearer shares with Nasdaq CSD SE, recording the ownership structure of the shares converted from registered shares into bearer shares in accordance with the entries in the register of shareholders as of the day of the appropriate registration of amendments to the statutes in the Commercial Register kept by the Register of Enterprises of the Republic of Latvia, as well as make the required entries in the register of shareholders in conjunction with the conversion of shares.
3) As of the time of the registration of the amendments to the statutes in the Commercial Register kept by the Register of Enterprises of the Republic of Latvia, deem all the previous closed issue registered shares that had been issued to their former owners invalid.

2. Amendments to the Statutes
1) Approve the amendments to the Statutes of VALMIERAS STIKLA ŠĶIEDRA JSC (Annex No. 1).

3. The listing of the converted bearer shares on the regulated market
1) List 12 408 955 bearer shares of VALMIERAS STIKLA ŠĶIEDRA JSC that had so far not been listed on the regulated market on the Nasdaq Riga JSC Baltic Secondary List.
2) Authorize the Board of VALMIERAS STIKLA ŠĶIEDRA JSC to develop and approve a prospectus, as well as all the other documents required for the listing of the additional 12 408 955 bearer shares of VALMIERAS STIKLA ŠĶIEDRA JSC on the Nasdaq Riga JSC Baltic Secondary List.
3) Task the Board of VALMIERAS STIKLA ŠĶIEDRA JSC with performing the activities required for the listing of the additional 12 408 955 bearer shares on the Nasdaq Riga JSC Baltic Secondary List.

Valmiera, 17 November 2017

Chairman of the Board A. H. Schwiontek

Member of the Board S. Jugel