The Annual Shareholders’ Meeting of Latvenergo AS was held on 9 May 2018 at 14:00 at the premises of Latvenergo AS at 12 Pulkveža Brieža Street, Riga.

The resolutions adopted at the Annual Shareholders’ Meeting:

1. To approve Latvenergo konsolidēto un AS „Latvenergo” 2017.gada pārskatu, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union;

2. To approve Latvenergo Consolidated and Latvenergo AS Annual Report 2017, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union;

3.1. To approve the distribution of Latvenergo AS profit for the year 2017 of EUR 150,890,619 as follows:

1)   EUR 91,998,299 to pay out to the state in dividends;

2)   EUR 58,892,320 to retain with a purpose to distribute them in year 2019, by adopting such decision along with the decision on distribution of Latvenergo AS profit for the year 2018;

3.2. To pay out to the state in dividends EUR 64,419,567, which have been transferred from Latvenergo AS profit for the year 2016 to Latvenergo AS retained earnings (reserves) with a purpose to decide on their pay-out to the state in dividends, by adopting such decision along with a decision on distribution of Latvenergo AS profit for the year 2017;

4. To appoint PricewaterhouseCoopers SIA to conduct the audit of Latvenergo AS for the year 2018, determining a remuneration of the auditor up to EUR 45,300 excl. VAT.

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.