The Supervisory Board of Latvenergo AS was elected at the Shareholders' Meeting of Latvenergo AS on 19 June 2019. The Supervisory Board is composed of five members: Pāvels Rebenoks, Kristaps Stepanovs, Inese Kublicka, Renārs Degro and Artūrs Šnoriņš. The Members of the Supervisory Board elected from among themselves Pāvels Rebenoks as the Chairman of the Supervisory Board and Renārs Degro as his Deputy. Renārs Degro and Kristaps Stepanovs will be on the Audit Committee of Latvenergo.

Pursuant to Section 31(9) of the Law on Governance of Capital Shares of a Public Person and Capital Companies, the new Supervisory Board has been elected for a temporary term until the Ministry of Economics selects in a competitive recruitment procedure and elects new council members of the Supervisory Board.

According to the order of the Shareholder, the new Supervisory Board has to accelerate the initiated efficiency programme in order to achieve competitive electricity tariffs in the Latvian economy and provide a renewed view of the Group’s development.

Composition of the Supervisory Board of Latvenergo AS

Pāvels Rebenoks – work experience includes: Member of the Board at Freeport of Riga Authority; Advisor to the Minister of Economics at the Minister’s Office; Attorney at Law and Partner at Rebenoks & Vilders Law Office; Chairman of the Supervisory Board at Olainfarm AS; Head of the Legal Department at PricewaterhouseCoopers (PWC); Deputy Chairman of the Supervisory Board at Rīgas Jūras līnija AS.

Kristaps Stepanovs – work experience includes: from 2012 – Member of the Management Board at the Latvian Renewable Energy Federation; Member of the Management Board at the Wind Energy Association.

Inese Kublicka – work experience includes: Head of the Minister’s Office at the Ministry of Economics; Head of the Broadcasting Editorial Office and Broadcasting Department Project Manager at Latvijas Televīzija VAS; Head of Marketing Department at Cēsu alus AS.

Artūrs Šnoriņš – work experience includes: Deputy Director at Baltic Blues LV SIA; Via Hansa Tours SIA.

Renārs Degro – work experience includes:  KPMG Baltic SIA and Ernst & Young Baltic SIA. Work experience as internal auditor in credit institutions since 2009. In 2011, he started working as Head of the Internal Audit Department at Rigensis Bank AS. From 2013, he held the position of the Risk Director at the Bank and since 2017 he has been Member of the Board at the Bank.

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 one of the leading energy suppliers in the Baltics 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.