The Annual Shareholder's Meeting of Latvenergo AS was held on 27 May 2026 at 15.00 at the premises of Latvenergo AS, Pulkveža Brieža Street 12, Riga.
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. All decisions of the Shareholder's Meeting were adopted unanimously.
Resolutions adopted at the Annual Shareholder's Meeting:
1. On approval of the Latvenergo AS Annual Report 2025 and Latvenergo Consolidated Annual Report 2025
To take note of the report of Supervisory Board of Latvenergo AS.
To take note of the independent auditor's report of ERNST & YOUNG BALTIC SIA on the audit of Latvenergo AS reports.
To approve Latvenergo koncerna konsolidetais un AS "Latvenergo" 2025.gada parskats. The financial statements are prepared in accordance with the International Financial Reporting Standards approved in the European Union.
To approve Latvenergo Group Consolidated and Latvenergo AS Annual Report for 2025. The financial statements are prepared in accordance with the International Financial Reporting Standards approved in the European Union.
To approve AS "Latvenergo" Korporativas parvaldibas zinojums par 2025.gadu and its English translation Latvenergo AS Corporate Governance Report 2025.
2. On distribution of the profit of Latvenergo AS for the year 2025, increasing the share capital of Latvenergo AS and amendments to the Articles of Association of Latvenergo AS
To distribute the profit of Latvenergo AS for 2025 in the amount of 190,215,855.00 EUR as follows:
- 141,000,000.00 EUR to be paid out to the state in dividends
- the remaining part of 49,215,855.00 EUR to be transferred to the retained earnings
To increase the share capital of Latvenergo AS by 80,066,196.00 EUR by paying for the newly issued shares with cash - by investing the retained earnings of Latvenergo AS from previous years in the share capital and determining the share capital of Latvenergo AS in the amount of 1,156,390,127.00 EUR.
To approve the regulations for increasing the share capital of Latvenergo AS.
To approve amendments to the Articles of Association of Latvenergo AS.
To approve the Articles of Association of Latvenergo AS in a new wording.
3. On the evaluation of the average number of employees and financial indicators of Latvenergo AS and allocation to the respective group of public capital companies
To allocate Latvenergo AS to the group of large capital companies.
4. On the remuneration of the auditor of Latvenergo AS for 2024-2026
A decision has been adopted regarding the auditor's remuneration.
5. On the contribution of Latvenergo AS business unit (a pool of assets) consisting of solar and wind power plants together with related borrowings into the Latvenergo AS subsidiary Elektrum Next SIA
To approve the contribution (transfer of business) of several solar and wind power plants of Latvenergo AS, with a total capacity of 38 MW, to Latvenergo AS subsidiary Elektrum Next SIA.
6. On the remuneration policy for the Management Board and Supervisory Board members of Latvenergo AS
To approve the remuneration policy for the members of the Management Board and Supervisory Board of Latvenergo AS.
Additional information:
Janis 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 tikls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas, development of solar and wind parks in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas, development of solar and wind parks in Lithuania), Elektrum Next SIA (development of solar and wind parks), Laflora Energy SIA (development of wind park), DSE Aizpute Solar SIA (development of solar park), Latvijas veja parki SIA (development of wind parks), Telšiu vejo parkas, UAB (development of wind park in Lithiania), Energijas publiskais tirgotajs AS (administration of mandatory electricity procurement process) and Liepajas energija SIA (generation and trade of thermal energy, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.
