The Supervisory Board of Latvenergo AS was temporarily elected at the Shareholders’ Meeting of Latvenergo AS on 9 October 2019. The Supervisory Board is composed of three members - Irēna Bērziņa, Edijs Šaicāns and Edmunds Valantis, and they represent the Ministry of Economics.

At the first meeting of the Supervisory Board, Edmunds Valantis was elected as Chairman of the Supervisory Board and Edijs Šaicāns was elected as Deputy Chairman of the Supervisory Board.

The members of the Supervisory Board shall perform their duties until the holder of the State's shares elects Supervisory Board pursuant to nomination procedure specified in Section 31 of the Law on Governance of Capital Shares of a Public Person and Capital Companies.

State Secretary of the Ministry of Economics Ēriks Eglītis: “Latvenergo AS Supervisory Board will consist of specialists with experience in public administration and energy, and their task will be to supervise the activities and the achievement of goals of the Group until the election of the Supervisory Board consisting of five people, which are being selected in selection procedure launched in August. For me as a shareholder in the country's major energy company it is important that the company is governed in accordance with the law and that all responsible bodies are in place.”

All members of the Supervisory Board are experienced employees of the Ministry of Economics. Irēna Bērziņa is Director of the Department of Strategic and Finance Management of the Ministry of Economics and has been working at the Ministry of Economics since 1997, Edijs Šaicāns - Director of the Department of Energy Market and Infrastructure of the Ministry of Economics, previously worked at the Consumer Rights Protection Center, also in Ķekava Municipality. Edmunds Valantis holds the position of Deputy State Secretary of the Ministry of Economics, previously worked at VAS “Valsts nekustamie īpašumi” (State Real Estate) un SIA “Latvijas garantiju aģentūra” (Latvian Guarantee agency).

In the election of Audit Committee for a term of three years, Irēna Bērziņa was also appointed to the Audit Committee of Latvenergo AS, with Torben Pedersen, Svens Dinsdorfs and Marita Salgrāve continuing their work. By electing the Supervisory Board and a member of the Supervisory Board joining the Audit Committee of Latvenergo AS, the requirement of the Financial Instrument Market Law that at least one member of the Audit Committee must also be a member of the Supervisory Board is fulfilled.

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.