As part of the transformation initiative launched earlier, I would like to unveil our plans for a more streamlined company by introducing several structural changes in Amber Beverage Group (also referred to as ABG or the Group). It is apparent that markets in recent period have become more mature, influenced by such macroeconomic factors as cost of financing, gross domestic product pressure and inflation, which drives the need to shift from scale to focus on key areas of strength and profit.

Therefore ABG continues to implement restructuring initiatives - part of our ongoing commitment to strengthen our leadership team and streamline our operations. By doing so, we aim to create a more agile and responsive organization that better serves our clients and stakeholders.

1. We continue the work on our route to market efficiencies in the Baltics focusing on utilization of synergies and with that in mind we have merged our operations in the Baltics into one strong platform under the leadership of Marek Kuklis, who has been promoted to Chief Operating Officer, Baltics & Austria.
In addition to his new role Marek Kuklis is undertaking the responsibility for Amber Latvijas balzams and Amber Logistics.

2. We are also delighted to welcome Andrejs Visnausks to the ABG team. Effective 26 July 2024, Andrejs joined us as the Managing Director of Amber Latvijas balzams. Andrejs brings a wealth of experience and a strong track record in optimizing P&L and fostering collaboration.

3. Focus is becoming our main priority and as a result Global Sales unit has been restructured, resulting in Chief Global Sales Officer Vangelis Smyrlis stepping away from the business. I want to thank Vangelis for everything he has done over the course of his tenure at Amber Beverage Group.
We have established Venture Markets unit, and I am delighted to share the news that Oleg Prokopchuk has been promoted to the role of Managing Director, Venture Markets as of 29 July 2024. He will focus on the increase of the ABG brand recognition and sales as well as will assume responsibility for the commercial aspects relating to Amber Production Tequila operations.

4. We have reviewed our Finance department functions and structure, resulting in CFO Ruslan Romanenko leaving the business on 26 August 2024. Olga Pleyer will take the role of Group CFO starting 29 August 2024. Ruslan and Olga will be working closely during the course of August in order to ensure a smooth handover.
Olga Pleyer is a high performing team player with developed leadership skills in a challenging and diverse cross – cultural environment. She has a proven track record of a strategic thinker with ability to drive the transformation of this critical function to support the growth of our Business.

I am confident that these changes will make the Group stronger, setting it in a position to achieve our strategic goals.  

Arturs Evarts
Member of the Board
Phone: +371 6701 1705
Email: forinvestors@amberbev.com
www.amberbev.com