Notice of JSC "Latvijas Gaze" regarding changes in the composition of the governance structures of the subsidiary JSC "Gaso"

On 22.03.2023 The Register of Enterprises has adopted a decision, which envisages making changes in the commercial register - by dismissing certain members of the Council of JSC "Gaso" with effect from 27.03.2023. The mentioned decision was taken to ensure the requirements of the current sanctions regulation (Council Regulation No. 833/2014 on restrictive measures related to Russia's activities that destabilize the situation in Ukraine (Regulation 833) article 5.o.1.p.) Similarly, 17.03.2022. the Register of Enterprises has adopted a decision, which envisages making changes in the commercial register, releasing with 27.03. 2023, also Anton Bubenov from the position of a member of the Board of JSC "Gaso”.
The mentioned changes in the composition of the Council and the Board of JSC "Gaso” will not affect the decision-making process in the daily work of JSC "Gaso”, as the necessary quorum in both the Council and the Board will be ensured in accordance with the statutes of JSC "Gaso”.
By making the mentioned changes in the composition of the Council and the Board of JSC "Gaso”, full compliance of the concern JSC "Latvijas Gaze" with the current sanctions regulation has been ensured.

Board of JSC "Latvijas Gaze”

On the JSC "Latvijas Gaze”

Latvijas Gaze is one of the leaders of the Baltic energy industry.

Our goal is to consolidate the leading position of the Latvijas Gaze Group in the Latvian and Baltic energy market by becoming the customers’ first choice among Natural Gas suppliers and providing the most reliable natural gas supply for the entire region.

The wholesale and sale of natural gas to business customers is carried out in Latvia, Lithuania and Estonia. Following the opening of the Finnish gas market on January 1, 2020, Latvijas Gaze has successfully started natural gas trading in Finland as well. In the household segment, Latvijas Gaze is the biggest and most prominent natural gas trader in Latvia.

After Latvia regained its independence in 1991, a joint state-owned company "Latvijas Gaze” was established by merging the Latvian gas infrastructure and institutions. The privatisation of the company was commenced in 1997 and completed in 2002. Since February 15, 1999, the shares of the JSC "Latvijas Gaze” have been quoted on the Nasdaq Riga stock exchange. Taking into account the requirements of the European Union for the establishment of the natural gas market and the expiry of the privatisation agreement between the state and the shareholders of Latvijas Gaze, the unified transmission and storage operator JSC "Conexus Baltic Grid” was separated from Latvijas Gaze in early 2017, followed by the separation of the distribution system operator JSC "Gaso” on December 1, 2017.

Contact information:

Sandra Joksta

investor.relations@lg.lv

phone + 371 67 374 369