On 30 October 2019 AB Klaipedos nafta (hereinafter – the Company) received an opinion of the Audit Committee of the Company regarding an issue of the Company's guarantee to the subsidiary of UAB SGD logistika in Brazil (hereinafter – the Transaction). The Transaction was also mentioned in the notification of 9 October 2019 AB Klaipedos nafta is negotiating the Operations and Maintenance Services Agreement for the LNG terminal in Brazil.

The Audit Committee of the Company gave the opinion that:

It did not observe any assumptions or facts indicating that the Transaction would be executed on non-market terms.
There is no basis to believe that the Transaction is unfair and unreasonable in relation to the Company and its shareholders who are not parties to the Transaction.
The terms and conditions of the Company's guarantee will be in accordance with the “arm's length principle”.
The amount of the Company's guarantee shall not exceed EUR 5 900 000 (without regard to possible foreign exchange fluctuations).
At a shareholder’s written request or request submitted electronically, no later than 3 days after the date of receipt of the request, a copy of the opinion of the Audit Committee will be given to the shareholder upon signed acknowledgement or will be sent by registered mail or transmitted electronically, if the security of the transmitted information is ensured and the shareholder can be identified. Shareholders of the Company are also entitled to access the opinion of the Audit Committee at registered office of the Company.







Jonas Lenkšas, Chief Financial Officer, +370 694 80594.