Agnes Makk will take up the position of Chairperson of the Management Board and CEO of Elektrum Eesti. Andrus Liivand will also continue to serve on the Management Board of the company. The expansion of the Management Board is related to the tasks of developing the company and strengthening its market position.

Agnes Makk has 28 years of experience and a result- and growth-oriented approach in banking, financial technology, information technology and the circular economy. During her career, she has managed housing loans, consumer financing and credit cards in the Baltic market, investment and pension funds in the Estonian market. Agnes Makk previous work and management experience is related to the introduction of new products to the market, rapid business growth, export and development of new markets. Agnes has worked as the Chairman of the Management Board at Swedbank Investment Funds, Maksekeskus, Bertelsmann Group and Foxway.

Since the liberalisation of the electricity market in Estonia in 2012 and the rapid increase in competition for customers between local utilities and new offers, Elektrum has consistently held one of the leading positions in electricity trading in Estonia. In recent years, Elektrum Eesti has continued to develop its business in the Estonian market in a number of new business areas. In addition to electricity trading, the company has been involved in solar panel retailing, the natural gas market, the development of renewable energy projects and the establishment of Elektrum’s electric vehicle charging network.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897
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 and electricity distribution services. 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 subsidiaries - 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), Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation) and Latvijas vēja parki SIA (development of wind parks in Latvia). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.