Decisions adopted in the Extraordinary General Meeting of Shareholders of LITGRID AB

Source: www.gulfoilandgas.com 2/13/2024, Location: Not categorized

The following decisions were adopted in the Extraordinary General Meeting of Shareholders of LITGRID AB (company code 302564383, registered address at Karlo Gustavo Emilio Manerheimo st. 8, LT-05131, Vilnius) on 12 February 2024:

1) Regarding approval of LITGRID AB Board’s decision 22 December 2023 (minutes No. 18, question No. 13) and Board’s decision 19 January 2024 (minutes No. 2, question No. 8)

1.1. To approve the conclusion of the Contract for the availability of electricity generation facilities with the related party AB "Ignitis Gamyba" and to approve the following essential terms of the Contract:

1.1.1. Parties to the Contract – LITGRID AB (legal entity code 302564383 address of the registered office of Karlo Gustavo Emilio Manerheimo g, 8, LT 05131 Vilnius); AB "Ignitis gamyba" (legal entity code 302648707 address of the registered office at Elektros str. 21, Elektrenai).

1.1.2. Subject of the Contract – in accordance with the procedure established in this Contract, the Producer undertakes to provide the Operator with the service of availability of electricity generation facilities in accordance with the Order submitted by the Operator, and the Operator undertakes to pay the Producer for the provided service of availability of electricity generation facilities.

1.1.3. Price and (or) pricing – The maximum value of the contract is EUR 14,5 million. The price of the electricity generation equipment availability service provided by the Producer is the price of the isolated work service specified in the order and the price of the additional component of the security of natural gas supply (the price of the service for the availability of electricity generation facilities established in the Contract corresponds to the upper price limit set by NRA for the Producer).

1.1.4. Payment procedure – The Producer, in accordance with the Act agreed among the Parties, no later than within 1 (one) working day from the date of signing the Acts, issues and submits to the Operator a VAT invoice for the Equipment Availability Service provided during the expired Accounting Period. VAT invoices shall be issued on the date of the calendar month of the accounting period ended. The Operator, having received the VAT invoice issued by the Producer, shall pay it no later than by the last of the current month.

1.1.5. Term of validity of the Contract and other essential terms – the Contract concluded by the Parties shall enter into force from the date of its signing and shall be valid until 29 February 2024 at 24:00.

1.1.6. Performance assurance – a Party who fails to pay the received VAT invoices or make any other payments due to it in accordance with the procedure and within the time limits set out in this Contract shall pay interest at the rate of 0.04% (four hundredths of a percent) on the unpaid amount for each day overdue.

2.1. To approve the conclusion of the Contract for the availability of electricity generation facilities service with the related party AB "Ignitis gamyba" and to approve the following essential terms of the Contract:

2.1.1. Parties to the Contract – LITGRID AB (legal entity code 302564383 address of the registered office of Karlo Gustavo Emilio Manerheimo g, 8, LT 05131 Vilnius); AB "Ignitis gamyba" (legal entity code 302648707 address of the registered office at Elektros str. 21, Elektrenai).

2.1.2. Subject of the Contract – in accordance with the procedure established in this Contract, the Producer undertakes to provide the Operator with the service of availability of electricity generation facilities in accordance with the Order submitted by the Operator, and the Operator undertakes to pay the Producer for the provided service of availability of electricity generation facilities.

2.1.3. Price and (or) pricing – The maximum value of the contract is EUR 73,8 million. The price of the electricity generation equipment availability service provided by the Producer is the price of the isolated work service specified in the order and the price of the additional component of the security of natural gas supply (the price of the service for the availability of electricity generation facilities established in the Contract corresponds to the upper price limit set by NRA for the Producer).

2.1.4. Payment procedure – The Producer, in accordance with the Act agreed among the Parties, no later than within 1 (one) working day from the date of signing the Acts, issues and submits to the Operator a VAT invoice for the Equipment Availability Service provided during the expired Accounting Period. VAT invoices shall be issued on the date of the calendar month of the accounting period ended. The Operator, having received the VAT invoice issued by the Producer, shall pay it no later than by the last of the current month.

2.1.5. Term of validity of the Contract and other essential terms – the Contract concluded by the Parties shall enter into force from the date of its signing and shall be valid until 31 December 2024 at 24:00.

2.1.6. Performance assurance – a Party who fails to pay the received VAT invoices or make any other payments due to it in accordance with the procedure and within the time limits set out in this Contract shall pay interest at the rate of 0.04% (four hundredths of a percent) on the unpaid amount for each day overdue.

3.1. To authorize the chief executive officer of LITGRID AB (with the right to delegate) to coordinate other (non-essential) conditions of the contract with AB “Ignitis gamyba" specified in point 2.1 of this decision and to sign this contract.





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