The regular shareholder meeting of JSC Development Finance Institution Altum (hereinafter – ALTUM) was held on April 29, 2024, in the premises of ALTUM at Dome Square 4, Riga. Meeting was organized by using remote connection options.

The regular shareholders' meeting discussed issues on (i) ALTUM’s annual report for the year ended 31 December 2023, which has been prepared in the uniform electronic format in accordance with the requirements of ESEF RTS (European Single Electronic Format Regulatory Technical Standard), (ii) ALTUM’s profit for the year 2023, (iii) reclassification within ALTUM’s reserve capital, (iv) Internal Audit Division’s action plan for the year 2023, (v) performance evaluation of the Head of the Internal Audit Division in 2023, (vi) changes in ALTUM’s specific reserve capital for the financing of the guarantee’ programme for agriculture, fisheries and rural development, (vii) election of the members of ALTUM’s Supervisory Board and (viii) permission to combine positions for ALTUM’s Supervisory Board members.

The following decisions were made in the regular shareholder meeting:

1. to approve ALTUM’s annual report for the year ended 31 December 2023, which has been prepared in the uniform electronic format in accordance with the requirements of ESEF RTS (European Single Electronic Format Regulatory Technical Standard),
2. to approve ALTUM’s profit of EUR 17 809 587.79 for the year 2023 and capitalizing it in full within ALTUM’s reserve capital,
3. to approve reclassification within ALTUM’s reserve capital,
4. to accept Internal Audit Division’s action plan for the year 2023,
5. to accept the decision of ALTUM’s Supervisory Board of 13 March 2024 regarding the performance evaluation of the Head of the Internal Audit Division in 2023,
6. to approve changes in ALTUM’s specific reserve capital for the financing of the guarantee’ programme for agriculture, fisheries and rural development,
7. to elect Ansis Grasmanis and Krišjānis Znotiņš as members of ALTUM’s Supervisory Board for a three-year term effective as of 1 May 2024 and to recall the current members of ALTUM’s Supervisory Board Ilze Baltābola and Jānis Šnore effective as of 30 April 2024.
8. to allow members of ALTUM’s Supervisory Board Ansis Grasmanis and Krišjānis Znotiņš to combine corporate positions.

JSC Development Finance Institution Altum is a Latvian state-owned company providing enterprises and households access to financial resources by means of support financial instruments - loans, guarantees, investments in venture capital funds - in the areas defined as important and to be supported by the state, thus developing the national economy, and enhancing mobilization of the private capital and financial resources. On 2 February 2024 Moody’s Investors Service (Moody’s) affirmed the Company’s Baa1 long-term issuer rating, with outlook stable, following update of rating methodology. The rating and the short-term issuer rating at P-2, same as affirmed on 16 December 2022. As of 2 February 2024, the Altum’s stand-alone assessment set at current baa3 replaces the withdrawn Baseline Credit Assessment. The assigned Moody’s rating of Altum is one of the highest credit ratings assigned to corporate entities in Latvia. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga.

         Laura Lapkovska
         AS Attīstības finanšu institūcija Altum Investors Relationships Division
         Tel.:+371 26165699
         E-mail: Laura.Lapkovska@altum.lv