On 29 February the Shareholders’ Meeting decided to withdraw Ivars Golsts from the Supervisory Board of Latvenergo AS. The changes are related to the decision to introduce a procedure that, when the term of office of a Supervisory Board Member is approaching, as well as fulfilling the duties of a Supervisory Board Member for the second term of office, Supervisory Board Members of Latvenergo AS are recalled one by one and selected gradually in the nomination procedure. Thus, the replacement of Supervisory Board Members would be gradual and would ensure the transfer of experience, which is very important for strategically important state-owned companies.

In the near future, the Ministry of Economics, in cooperation with the State Chancellery, will organize the nomination procedure for the position of Supervisory Board Member of Latvenergo AS.

The holder of all Latvenergo AS capital shares is the Ministry of Economics of the Republic of Latvia, whose interests at the Shareholder's Meeting are represented by the State Secretary of the Ministry of Economics or by his authorized representative.

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.