Guntis Stafeckis has decided to terminate working as Member of the Management Board of Latvenergo. He informed Chairman of the Supervisory Board, that after two years of intense work he wants to leave his position starting from 1 March of this year in order to strengthen his health.

G.Stafeckis performs the duties of the Member of the Management Board and the Chief Technology and Support Officer of Latvenergo AS since 2015, also being the Chairman of the Management Board of Latvijas elektriskie tīkli AS (LET) from 2011 to 2015 and the Chief Executive Officer of LET from 2014.

Guntis Stafeckis has rich experience in the energy industry, as he started working in the industry at Plavinas hydropower plant (HPP) in 1986, later becoming the Deputy Head of the Technical and Generation Department of Daugava HPPs. Since 1995, Guntis Stafeckis held leading positions at Siemens SIA, being the Chief Executive Officer of the company in the period from 2007 to 2009.

The Human Resources Committee of Latvenergo AS will organise a recruitment procedure to select a new Member of the Management Board of Latvenergo AS, and will prepare proposals to the Supervisory Board of Latvenergo AS.

Additional information:

Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail: investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is the largest pan-Baltic power supply utility operating in electricity and thermal energy generation and trade, natural gas trade, electricity distribution services and lease of transmission system assets. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and seven subsidiaries - Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.