Bondholders' Approval (Waiver) Request Regarding Pay-out of 50% Dividend Share of the Audited Net Profit for 2015

CORRECTIONS:
- The Request is corrected by providing an amendment fee.
- The Issuer will count previously received Bondholders’ Vote Forms. Those Bondholders, who voted “for” the previous requests, please kindly contact the Issuer in order to provide current account details in order to be able to receive the Amendment Fee.
- Extended Vote Form submission deadline.

ELKO Grupa AS is requesting the Bondholders’ consent to one-time waiver of Clause seven of the Chapter "Limitations" of Clause 5.3 of the Bond (ISIN LV0000801892) Prospectus:

"Dividend pay-out ratio shall not be more than 30% of the previous years audited annual net profit.”

Given the strong results of 2015, the Issuer would like to propose paying higher dividend distributions than the Prospectus allows for, respectively, dividend pay-out to Equity holders of the parent company in amount of 5.5 million EUR or approximately 50% of the profit attributable to the Equity holders of the parent company.

Application and the Bondholder Voting Forms are available on the website of the central storage of regulated information - www.oricgs.lv and on the website of “Nasdaq Riga” - www.nasdaqbaltic.com. The Bondholder Voting Forms may also be obtained on request from the Issuer. Request of Bondholder Voting Forms from the Issuer should be made to the following e-mail address –janis.kirsis@elkogroup.com.

         Janis Kirsis
         Head of Treasury
         ELKO Grupa AS
         
         4, Toma Street
         Riga, LV - 1003, Latvia
         Phone: + 371 6709 2357
         e-mail: janis.kirsis@elkogroup.com