Management

Darius Šilenskis Chief Executive Officer (CEO)

Appointed as Chief Executive Officer (CEO) from 11 November 2019.

Baltic Management Institute (BMI), Executive Master in International Business Administration (EMBA) (2013)
Vytautas Magnus University, Master of Business Administration (2013)
Mykolas Romeris University, Master of Laws, Degree Program in International Maritime Law (2006)
Mykolas Romeris University, Bachelor of Laws, Law and Management (2004)

Information on the number of shares held by Darius Šilenskis in AB KN Energies or other companies where the number of shares held exceeds 5%:

The share of AB KN Energies held by Darius Šilenskis is less than 0.05%
UAB Afinta – 50 %

Participation in activities of other companies and organisations:

Independent Member of the Board of AB Vilniaus šilumos tinklai
Member of the Board of Directors of the Association of Lithuanian Stevedoring Companies
Member of the Board of Lithuanian Maritime Cluster
Member of the Council of the National Lithuanian Energy Association (NLEA)

Linas Kilda Chief Business Development Officer (CBDO)

Appointed to the position from 3 August 2020.

Education:

Baltic Management Institute (BMI), Executive Master's in Business Administration (EMBA) (2023);
Institute of Geology and Geography, PhD (Physical Sciences) (2002)
University of Aberdeen, Master of Petroleum Geology (1998)
Vilnius University, Engineering geologist and hydrogeologist (1995)

The share of AB KN Energies held by Linas Kilda is less than 0.05%.

Mindaugas Navikas Chief Commercial Officer (CCO)

Appointed as as a Chief Commercial Officer from 8 September 2020

Education:

Stockholm School of Economics in Riga (SSE), Master of Business Management (EMBA), 2018
Vilnius University, International Business School, Master of International Business Management, 2006
Vilnius University, Bachelor of Business Management, 2002

Participation in activities of other companies and organisations:

Member of the Board of the operator of the Lithuanian energy exchange Baltpool.

The share of the AB KN Energies held by Mindaugas Navikas is less than 0.05%

Dainius Čiuta Chief Operations Officer (COO)

Appointed as Chief Operations Officer from 5 November 2020.

Education:

Baltic Management Institute (BMI), International Executive Master of Business Administration (EMBA) (2013).
Kaunas University of Technology, Master of Chemical Technology Engineering (1999).
Klaipeda University, Bachelor of Chemical Technology (1997).

Participation in the activities of other companies, institutions and organizations:

Member of the board of children’s football club “FK Atmosfera”;
Member of the Energy Committee of Lithuanian Confederation of Industrialists.

Dainius Čiuta does not own shares in AB KN Energies or other companies when the number of shares held exceeds 5% of all shares in the company.

Tomas Tumėnas Chief Financial Officer (CFO)

Appointed as as a Chief Financial Officer from 15 January 2024.

Education:

The University of Manchester MBA in Finance (2011);
Aalborg University, 4th semester in Msc. in International Business Economics (1995);
Vilnius University, Master in Economics (1995).

Participation in activities of other companies and organisations:

Chairman of the Supervisory Board at the Akola group
Independent Board member and audit committee member at State Enterprise Regitra
Independent Board and investment committee member at Lithuanian State Investment Agency (VIVA)
Supervisory board member at credit union Saulegraza
CEO and Board member at JSC “Darius Zubas holding”
Director of JSC “Baltic Fund Investments”
Director of Akola ApS (Denmark)
Board member at JSC Turing College

Tomas Tumėnas does not own shares in AB KN Energies or other companies when the number of shares held exceeds 5% of all shares in the company.

Martynas Žiedas Chief Digital Officer (CDO)

Appointed as as a Chief Digital Officer from 15 March 2024.

Education:

Governance of Enterprise IT (CGEIT) Training, BKA - Baltijos kompiuterių akademija (2017)
Vytautas Magnus University, Bachelor of Informatics (1997)

Participation in activities of other companies and organisations:

Public Entity Lithuanian National Radio and Television (LRT), part time employee in IT department.

Martynas Žiedas does not own shares in AB KN Energies or other companies when the number of shares held exceeds 5% of all shares in the company.

Jurgita Šilinskaitė-Venslovienė Chief Corporate Affairs Officer (CCAO)

Appointed as as a Chief Corporate Affairs Officer from 29th August 2024.

Education:

Baltic Institute of Corporate Governance (BICG), Board Member Certificate (2024)
Baltic Management Institute (BMI), Executive Master of Business Administration (EMBA) (2021)
Vytautas Magnus University, Master of Business Administration (2021)
Mykolas Romeris University, Master of Public Administration (2008)
Klaipėda University, Bachelor of Social Work (2003)
Agder University (Norway), NORSEC certificate (2000)

Information on the number of shares held by Jurgita Šilinskaitė-Venslovienė in AB KN Energies or other companies where the number of shares held exceeds 5%:

The share of AB KN Energies held by Jurgita Šilinskaitė-Venslovienė is less than 0.05%
UAB Jūrinis brizas – 100 % (entity activity suspended)

Participation in activities of other companies and organisations:

AB "Vidaus vandens kelių direkcija", Chair of the Board
Honorary Consul of the Kingdom of the Netherlands in Klaipėda
Lithuanian Grand Duchess Birutė Klaipėda Region Officers' Families Women's Association, Member of the Board
Rotary club “Karalienė Luizė”, Member
Klaipėda University Alumni Club "KU Alumni" (inactive), Member of the Board
Association Idėjų pakrantė (inactive), Member of the Board

Edvinas Katilius Chairperson of the Board

Independent member, Chairperson of the Management Board of the Company, appointed to the Board by the Supervisory Council as of 25 April 2022.

Education:

IMD Business School, Switzerland, MBA (2002)
Aalborg University, Denmark, International buisness MBA course (1994)
Vilnius University, Lithuania, diploma in Econometrics (1993)

Employer and position:

PMI (Philip Morris International), VP PMI Global Duty Free (Aug 2017 - present)
PMI Poland & Baltics, Managing Director (Sep 2013 – Jul 2017)
PMI Russia. VP Area, then VP Commercial strategy Russia (Jan 2009 – Aug 2013)
PMI EU Region. Director Commercial strategy EU (Jan 2007 – Dec 2008)
PMI Baltic States, Managing Director (Oct 2004 – Dec 2006)
PMI Planning and business development manager (Jan 2003 – Sep 2004)
PMI National Sales Manager Lithuania (Apr 1999 – Dec 2001)
Pepsi - Cola Company, Franchise manager (Vilnius), then Franchise manager South Ukriane and General Manager Ukraine (Kiev) (1995 – 1999)

Edvinas Katilius does not hold shares of AB KN Energies. Edvinas Katilius' declaration of private interests can be found in PINREG.

Alfonso Morriello Member of the Board

Independent member of the Management Board of the Company, appointed to the Board by the Supervisory Council as of 25 April 2022.

Education:

INSEAD, MBA (2001)
University La Sapienza, Rome, MSc Electronics Engineering (1996)

Employer and position:

AXEGAZ Trading & Technologies S.A.S. Chief Executive Officer (from 2020)
MAXCOM PETROLI S.p.A., Board Member & LNG Managing Director (2019-2020)
AXEGAZ, Chief Executive Officer and Chairman of the Board (2011-2019)
SHELL GAS HUNGARY, General Manager (2007-2010)
SHELL GAS, Global Head of Portfolio (2002-2007)
SHELL INFORMATION TECHNOLOGY INTERNATIONAL Ltd, Senior Consultant (1998-2002)

Alfonso Morriello does not hold shares of AB KN Energies. Alfonso Morriello' declaration of private interests can be found in PINREG.

Jūratė Lingienė Member of the Board

Independent member of the Management Board of the Company, appointed to the Board by the Supervisory Council as of 25 April 2022.

Education:

ACCA (The Association of Chartered Certified Accountants) (1999 – 2004), UK ACCA Member - Certified Accountant (FCCA)
Vilnius University, Master degree in Finance (1997 – 1999)
Vilnius University, Bachelor degree in Audit and Accounting (1993 – 1997)

Employer and position:

SEB (Sweden) CFO for Technology and Staff functions (From 2015)
SEB (Lithuania and Latvia) Head of Vilnius and Riga Shared Service Centers (2014 - 2015)
SEB Latvia CFO, Member of the Board (2010 – 2014)
SEB Lithuania Head of Finance (2008 – 2010)
SEB Lithuania Head of Planning (2006 – 2008)
SEB Lithuania Head of Financial systems group (2006)
SEB Lithuania Tax manager (2004 – 2006)
Deloitte (Russia) Tax manager (2002 – 2003)
Andersen, Ernst & Young (Russia) Senior tax consultant (2001– 2002)
Andersen, Ernst & Young (Lithuania) Senior tax consultant (1999 – 2001)
Andersen, Ernst & Young (Latvia) Senior auditor (1998 – 1999)
Andersen, Ernst & Young (Lithuania) Auditor (1997 – 1998)

Jūratė Lingienė does not hold shares of AB KN Energies. Jūratė Lingienė' declaration of private interests can be found in PINREG.

Guy Mason Member of the Board

Independent member of the Management Board of the Company, appointed to the Board by the Supervisory Council as of 25 April 2022.

Education:

Engineering science and technology, Loughborough University (1986)

Other qualifications:

Chartered Engineer, Fellow of Institution of Mechanical Engineers

Employer and position:

Appointments leading to SVP Global Head of Shipping, BP (April 2016 – December 2020)
Multiple management positions in various BP businesses including petrochemicals, gas power and renewables, and alternative energy (September 1986 – March 2016)
Non-Executive Director and Advisory Committee member, International Tanker Owners Pollution Federation (ITOPF) (September 2018 – December 2020)
Members’ Representative Committee, Britannia P&I Club (May 2020 – December 2020)
Non-Executive Director and Chair of the Audit Committee, Oil Spill Response Ltd (OSRL) (June 2016 – June 2019)
Non-Executive Director, Member of Charitable Giving and Investment committees, International Foundation for Aids to Navigation (IFAN) (May 2016 – December 2020)
CFO and Director, Hydrogen Energy International (March 2010 – Dec 2018)

Participation in activities of other companies and organisations:

Non-Executive Director, Windward Limited
Trustee and Member of the Board, International Foundation for Aids to Navigation (from March 2022)

Guy Mason does not hold shares of AB KN Energies. Guy Mason' declaration of private interests can be found in PINREG.

Karolis Švaikauskas Member of the Board

Member of the Management Board of the Company, appointed to the Board by the Supervisory Council as of 12 May 2022.

Education:

Vytautas Magnus University, Faculty of Political Science and Diplomacy, Master’s Degree in Political Science, Baltic Region Studies (2011).
Humboldt University of Berlin (Germany), Scandinavian and Northern European Studies (2010).
Vytautas Magnus University, Faculty of Humanities, Bachelor's degree in Historical Sciences (2009).

Work experience:

Since 2019, he is holding the position of the Head of the Energy Competitiveness Group of the Ministry of Energy of the Republic of Lithuania.
Since 2014, he has held the position of the Chief Specialist, Deputy Head and Adviser of the Oil and Gas Division of the Ministry of Energy of the Republic of Lithuania.
Since 2011, he has held the position of the Senior and Chief Specialist of the Strategic Projects Division of the Ministry of Energy of the Republic of Lithuania.

Participation in the activities of other companies, institutions and organizations:

Member of the Management Board of AB „Amber Grid“ since 2022
Member of the Supervisory Board of Klaipėdos Nafta, AB (2020-2022)
Member of the Labor Council of the Ministry of Energy since 2019 (representation of employees’interests)
Member of the Strategic Projects Supervision Commission of EPSO-G UAB (2018-2020)
Member of the Board of Lietuvos naftos produktų agentūra, VĮ (2015-2018)
Member of the Lithuanian-Polish Energy Working Group since 2015
Member of the Regional Gas Market Coordination Group (RGMCG) since 2015
Member of the Energy Committee of Senior Officials of the Baltic Council of Ministers since 2015
Member of the Energy Committee of the Connecting Europe Facility (CEF) (2014-2019)
Member of the BEMIP regional working groups for the selection of EU projects of common interest (2012-2019)

Karolis Švaikauskas does not hold shares of AB KN Energies. Karolis Švaikauskas' declaration of private interests can be found in PINREG.

Robertas Vyšniauskas Chairperson of the Supervisory Council

Chairperson of the Company’s Supervisory Council. Elected to the Supervisory Council on the 20th October 2022 by the Extraordinary General Meeting of Shareholders for a four-year term.

Education:

Mykolas Romeris University, Faculty of Law, Master of Law (2010)
Mykolas Romeris University, Faculty of Law, Bachelor of Law (2004)

Work experience:

2019, Independent Member of the Board of SE Infostruktūra
Since 2014, Corporate Governance, M&A Consultant (private practice)
From 2008 to 2014, member of the management bodies of companies related to or controlling UAB Vilniaus prekyba - member of the board and/or director and/or lawyer
From 2003 to 2008, Private legal practice

Participation in activities of other companies and organisations:

Since 2020, Independent Member of the Board of Directors (until 09.11.2020) and General manager of UAB „Valstybės investicinis kapitalas“
Since 2020, Independent Member of the Board of UAB Vilniaus vystymo kompanija
Since 2019, Independent Member and Chairman of the Board and Member of the Audit Committee of UAB EPSO-G
Since 2019, Lecturer at VŠĮ Vilniaus universitetas

Robertas Vyšniauskas does not hold shares of AB KN Energies. Robertas Vyšniauskas' declaration of private interests can be found on PINREG.

Dovilė Kavaliauskienė Member of the Supervisory Council

Member of the Company’s Supervisory Council. Elected to the Supervisory Council on the 20th October 2022 by the Extraordinary General Meeting of Shareholders for a four-year term.

Education:

Vilnius University, Faculty of Law, Master of Law (2016)
Baltic Institute of Corporate Governance, Corporate Governance Training for Public Sector (2022)

Work experience:

Since 2021, Adviser to the Law and Personnel Group of the Ministry of Energy of the Republic of Lithuania
From 2020 to 2021, Adviser to the Law and Personnel Division of the Ministry of Energy
From 2018 to 2020, Adviser to the Law Division of the Ministry of Energy
2018, Deputy Head of the Law Division of the Ministry of Energy
From 2016 to 2018 Chief specialist, Electricity Energy Division, Ministry of Energy
2014, Legal Consultant, VšĮ „Vilniaus universiteto teisės klinika“

Dovilė Kavaliauskienė does not hold shares of AB KN Energies. Dovilė Kavaliauskienė' declaration of private interests can be found in PINREG.

Mantas Šukevičius Member of the Supervisory Council

Member of the Company’s Supervisory Council. Elected to the Supervisory Council on the 20th October 2022 by the Extraordinary General Meeting of Shareholders for a four-year term.

Education:

Vilnius University, Faculty of Economics, Bachelor of Economics (Banking) (1997)
Vilnius University, Institute of International Relations and Political Science, Bachelor of Political Science (1998)
Vilnius University, Institute of International Relations and Political Science, Master of European Union Studies (2000)

Work experience:

From 2020 to 2022, CEO of UAB Victory Funds
From 2018 to 2022, Member of the Supervisory Board of UAB Investicijų ir verslo garantijos (Invega)
From 2017 to 2021, Chairman of the Management Board of VĮ Valstybinių miškų urėdija
From 2018 to 2019, Deputy CEO, Member of the Management Board of UAB European Merchant Bank
From 2015 to 2017, Head of Credit at Lindorff OY Lietuva
From 2013 to 2014, Chief Risk Officer, Managing Director of JSC Kazinvestbank (Kazakhstan)
From 2012 to 2013, Head of Corporate Risk Management, AB SEB Bankas
From 2006 to 2012 Chief Risk Officer, Deputy Chairman of the Board, OJSC SEB Bank (Ukraine)
From 2010 to 2012, Member of the Supervisory Board of JSC Closed Non-diversified Corporate Investment Fund "SEB Equity Fund" (Ukraine)
From 2007 to 2009, Member of the Supervisory Board of SEB Life Insurance Ukraine
From 2005 to 2006, Head of Credit Departmentof JS bank AGIO, Member of SEB Group (Ukraine)
From 2000 to 2005, Restructuring Manager, AB SEB Vilniaus bankas
From 1998 to 2000, Corporate Banking Officerat AB Bankas Hermis

Participation in activities of other companies and organisations:

Chairman of the Audit Committee and Independent Member of the Board of VĮ Oro navigacija
Director of MB Buteo Invest
Chairman of the Management Board of AB Detonas
Member of the Board of UAB Demus Asset Management
Member of the Supervisory Board, Member of the Audit Committee of JSCB "Biznesni rivojlantirish banki"

Mantas Šukevičius does not hold shares of AB KN Energies. Mantas Šukevičius' declaration of private interests can be found in PINREG.

Šarūnas Radavičius Chairperson of the Audit Committee

Member of the Company's Audit Committee, elected by decision of the Supervisory Council from 22nd February 2023 until the end of the term of office of the Company's current Supervisory Council. In the Audit Committee meeting held on 20 April 2023, elected as a Chairperson of the Audit Committee.

Education:

Vilnius University, Faculty of Economics, Accounting and Auditing (1993)

Work experience:

From 2019 to 2021, Chairman of the Audit Committee, AB Lietuvos radijo ir televizijos centras
From 2018 to 2021, Member of the Audit Committee of AB Ignitis grupė
From 2005 to 2019, Head of Audit Department of UAB Rödl & Partner
From 2002 to 2005, CFO of UAB Žaliasis taškas
From 1999 to 2005, owner of a sole proprietorship engaged in auditing, accounting and consulting activities
From 1997 to 1999, Financial Analyst, Finance Director at UAB Bauer Vertrieb

Participation in activities of other companies and organisations:

UAB Akropolis Group, Chairman of the Audit Committee
AB Utenos trikotažas, Chairman of the Audit Committee
Owner of MB Saluma
Lithuanian Chamber of Auditors, member of the Presidium

Šarūnas Radavičius does not hold shares of AB KN Energies. Šarūnas Radavičius' declaration of private interests can be found on PINREG.

Robertas Vyšniauskas Member of the Audit Committee

Member of the Company's Audit Committee, elected by decision of the Supervisory Council from 24 November 2022 until the end of the term of office of the Company's current Supervisory Council.

Education:

Mykolas Romeris University, Faculty of Law, Master of Law (2010)
Mykolas Romeris University, Faculty of Law, Bachelor of Law (2004)

Work experience:

2019, Independent Member of the Board of SE Infostruktūra
Since 2014, Corporate Governance, M&A Consultant (private practice)
From 2008 to 2014, member of the management bodies of companies related to or controlling UAB Vilniaus prekyba - member of the board and/or director and/or lawyer
From 2003 to 2008, Private legal practice

Participation in activities of other companies and organisations:

Since 2020, Independent Member of the Board of Directors (until 09.11.2020) and General manager of UAB „Valstybės investicinis kapitalas“
Since 2020, Independent Member of the Board of UAB Vilniaus vystymo kompanija
Since 2019, Independent Member and Chairman of the Board and Member of the Audit Committee of UAB EPSO-G
Since 2019, Lecturer at VŠĮ Vilniaus universitetas

Robertas Vyšniauskas does not hold shares of AB KN Energies. Robertas Vyšniauskas' declaration of private interests can be found on PINREG.

Mantas Šukevičius Member of the Audit Committee

Vilnius University, Faculty of Economics, Bachelor of Economics (Banking) (1997)
Vilnius University, Institute of International Relations and Political Science, Bachelor of Political Science (1998)
Vilnius University, Institute of International Relations and Political Science, Master of European Union Studies (2000)

Work experience:

From 2020 to 2022, CEO of UAB Victory Funds
From 2018 to 2022, Member of the Supervisory Board of UAB Investicijų ir verslo garantijos (Invega)
From 2017 to 2021, Chairman of the Management Board of VĮ Valstybinių miškų urėdija
From 2018 to 2019, Deputy CEO, Member of the Management Board of UAB European Merchant Bank
From 2015 to 2017, Head of Credit at Lindorff OY Lietuva
From 2013 to 2014, Chief Risk Officer, Managing Director of JSC Kazinvestbank (Kazakhstan)
From 2012 to 2013, Head of Corporate Risk Management, AB SEB Bankas
From 2006 to 2012 Chief Risk Officer, Deputy Chairman of the Board, OJSC SEB Bank (Ukraine)
From 2010 to 2012, Member of the Supervisory Board of JSC Closed Non-diversified Corporate Investment Fund "SEB Equity Fund" (Ukraine)
From 2007 to 2009, Member of the Supervisory Board of SEB Life Insurance Ukraine
From 2005 to 2006, Head of Credit Departmentof JS bank AGIO, Member of SEB Group (Ukraine)
From 2000 to 2005, Restructuring Manager, AB SEB Vilniaus bankas
From 1998 to 2000, Corporate Banking Officerat AB Bankas Hermis

Participation in activities of other companies and organisations:

Chairman of the Audit Committee and Independent Member of the Board of VĮ Oro navigacija
Director of MB Buteo Invest
Chairman of the Management Board of AB Detonas
Member of the Board of UAB Demus Asset Management
Member of the Supervisory Board, Member of the Audit Committee of JSCB "Biznesni rivojlantirish banki"

Mantas Šukevičius does not hold shares of AB KN Energies. Mantas Šukevičius' declaration of private interests can be found in PINREG.

Živilė Valeišienė Chairperson of the Remuneration and Nomination Committee

Chairperson of the Company's Remuneration and Nomination Committee, elected to Comittee by decision of the Supervisory Council from 22nd February 2023 until the end of the term of office of the Company's current Supervisory Council.

Education:

Baltic Institute of Corporate Governance (BICG), Training for Board Members (2021)
Baltic Management Institute (BMI), Executive Master's Degree (EMBA) (2013)
Kaunas University of Technology, Master of Applied Mathematics (1999)

Work experience:

2022, Member of the Remuneration Committee Sub-Committee of Western Union
From 2014 to 2022 HR Director, Global HR Business Partner at Western Union Processing Lietuva
From 2009 to 2014, Head of HR at UAB Omnitel
From 2003 to 2009, UAB Philip Morris Baltic/UAB Philip Morris Lithuania, career progression from specialist to HR Business Partner for Baltics.

Participation in activities of other companies and organisations:

From 2022, Member of the Board of UAB Kelių priežiūra

Živilė Valeišienė does not hold shares of AB KN Energies. Živilė Valeišienė‘ declaration of private interests can be found in PINREG.

Dovilė Kavaliauskienė Member of the Remuneration and Nomination Committee

Member of the Company's Remuneration and Nomination Committee, elected by decision of the Supervisory Council from 24 November 2022 until the end of the term of office of the Company's current Supervisory Council.

Education:

Vilnius University, Faculty of Law, Master of Law (2016)
Baltic Institute of Corporate Governance, Corporate Governance Training for Public Sector (2022)

Work experience:

Since 2021, Adviser to the Law and Personnel Group of the Ministry of Energy of the Republic of Lithuania
From 2020 to 2021, Adviser to the Law and Personnel Division of the Ministry of Energy
From 2018 to 2020, Adviser to the Law Division of the Ministry of Energy
2018, Deputy Head of the Law Division of the Ministry of Energy
From 2016 to 2018 Chief specialist, Electricity Energy Division, Ministry of Energy
2014, Legal Consultant, VšĮ „Vilniaus universiteto teisės klinika“

Dovilė Kavaliauskienė does not hold shares of AB KN Energies. Dovilė Kavaliauskienė' declaration of private interests can be found in PINREG.

Robertas Vyšniauskas Member of the Remuneration and Nomination Committee

Mykolas Romeris University, Faculty of Law, Master of Law (2010)
Mykolas Romeris University, Faculty of Law, Bachelor of Law (2004)

Work experience:

2019, Independent Member of the Board of SE Infostruktūra
Since 2014, Corporate Governance, M&A Consultant (private practice)
From 2008 to 2014, member of the management bodies of companies related to or controlling UAB Vilniaus prekyba - member of the board and/or director and/or lawyer
From 2003 to 2008, Private legal practice

Participation in activities of other companies and organisations:

Since 2020, Independent Member of the Board of Directors (until 09.11.2020) and General manager of UAB „Valstybės investicinis kapitalas“
Since 2020, Independent Member of the Board of UAB Vilniaus vystymo kompanija
Since 2019, Independent Member and Chairman of the Board and Member of the Audit Committee of UAB EPSO-G
Since 2019, Lecturer at VŠĮ Vilniaus universitetas

Robertas Vyšniauskas does not hold shares of AB KN Energies. Robertas Vyšniauskas' declaration of private interests can be found on PINREG.

The Company's management consists of the Chief Executive Officer (CEO) and six Directors of the Company: Chief Financial Officer, Chief Business Development Officer, Chief Operations Officer, Chief Commercial Officer, Chief Corporate Affairs Officer, and Chief Digitalization Officer.

The Board consists of 5 members, including the Chairman of the Board, with at least 3 members being independent. Members of the Board are elected for a period of 4 years and recalled by the Supervisory Board. For the election of the Board members a special Election Committee may be formed by the Supervisory Board. The formation and the term of office of the Board as well the procedure of its work and adoption of decisions are regulated by Section VI of the Articles of Association of the Company.

An independent member of the Board of the Company is a person who has no business, kinship, in-laws, partnership relations with the Company, the controlling shareholder of the Company or members of the Company's bodies and who had no business relations for at least one year with the Company directly or as a shareholder or manager of the Company having such relations as well as complying with other criteria established in the Law on Companies of the Republic of Lithuania, Resolution No 631 of 17 June 2015 of the Government of the Republic of Lithuania and in the Corporate Governance Code for the Companies Listed on Nasdaq Vilnius.

The Supervisory Council consists of 3 members, including the Chairman of the Supervisory Council, with at least 2 members being independent. The Supervisory Council is elected for a period of 4 years by the General Shareholders’ Meeting. The formation and the term of office of the Supervisory Council as well the procedure of its work and adoption of decisions are regulated by Section V of the Articles of Association of the Company.

The Audit Committee acts as an advisory body to the company's Supervisory Council in the areas of internal control and operational risk management. The members of the Audit Committee shall be appointed until the end of the term of office of the Supervisory Council of the company. The functioning of the Audit Committee shall be defined by the Rules of Procedure for the establishment and functioning of the Audit Committee.

The Remuneration and Nomination Committee acts as an advisory body to the Company's Supervisory Council, making recommendations on the Company's remuneration policy, proposing to the Company the criteria for assessing the performance of its executives, and making other recommendations relating to remuneration. The Remuneration and Nomination Committee is composed of 3 members, of which 1 is independent and 2 are delegated members of the Supervisory Council. The members are appointed until the end of the term of office of the current Supervisory Council. The activities of the Remuneration and Nomination Committee shall be defined in the Regulation of the Remuneration and Nomination Committee.

The declarations of private interests of the supervisory board, board and managment of the company's can be found here.