JSC “Latvijas Gāze” statement on launching the process of sale of the JSC “Gaso”

On August 8, 2022, the shareholders of the JSC “Latvijas Gāze” passed a decision on launching the Company’s reorganisation process or the reduction of its equity capital.

The Board of the JSC “Latvijas Gāze” supports the need to effect the reorganisation of the JSC “Latvijas Gāze” in execution of the shareholder’s decision of August 8, 2022 and has launched the process of selling the gas distribution operator JSC “Gaso” which it owns. The process is expected to be completed within 2023.

JSC “Latvijas Gāze”

Board

On the JSC “Latvijas Gāze”

Latvijas Gāze is one of the leaders of the Baltic energy industry.

Our goal is to consolidate the leading position of the Latvijas Gāze Group in the Latvian and Baltic energy market by becoming the customers’ first choice among natural gas suppliers and providing the most reliable natural gas supply for the entire region.

The wholesale and sale of natural gas to business customers is carried out in Latvia, Lithuania and Estonia. Following the opening of the Finnish gas market on January 1, 2020, Latvijas Gāze has successfully started natural gas trading in Finland as well. In the household segment, Latvijas Gāze is the biggest and most prominent natural gas trader in Latvia.

After Latvia regained its independence in 1991, a joint state-owned company “Latvijas Gāze” was established by merging the Latvian gas infrastructure and institutions. The privatisation of the company was commenced in 1997 and completed in 2002. Since February 15, 1999, the shares of the JSC “Latvijas Gāze” have been quoted on the Nasdaq Riga stock exchange. Taking into account the requirements of the European Union for the establishment of the natural gas market and the expiry of the privatisation agreement between the state and the shareholders of Latvijas Gāze, the unified transmission and storage operator JSC “Conexus Baltic Grid” was separated from Latvijas Gāze in early 2017, followed by the separation of the distribution system operator JSC “Gaso” on December 1, 2017.

Contact information:

Sandra Joksta

investor.relations@lg.lv

phone + 371 67 374 369