Decisions of the Annual General Meeting of Shareholders held on 28 April 2020

The Annual General Meeting of Telia Lietuva, AB (hereinafter ‘the Company’ or ‘Telia Lietuva’) shareholders was held on 28 April 2020.

All shareholders that participated at the General Meeting voted in advance in writing by filling in General Voting Ballots.

The Annual General Meeting of Telia Lietuva decided:

- To approve the audited annual consolidated and separate financial statements of the Company for the year 2019. The consolidated annual report of the Company for the year 2019, prepared by the Company, assessed by the auditors and approved by the Board, was presented.

- To allocate the Company’s profit for the year: from the Company’s distributable profit of EUR 140,080 thousand EUR 52,435 thousand for the payment of dividends for the year 2019, i.e. EUR 0.09 dividend per share, and carry forward to the next financial year an amount of EUR 87,645 thousand as retained earnings (undistributed profit). For two independent members to the Board – Tomas Balžekas and Mindaugas Glodas – as tantiems (annual payment) for the year 2019 to allocate in total an amount of EUR 31,280, or EUR 15,640 each.

The Law on Companies of the Republic of Lithuania provides that dividends shall be paid to the shareholders who at the end of the tenth business day following the Annual General Meeting that adopts a decision on dividend payment (rights accounting day) will be on the Shareholders’ List of the Company, i.e. will be shareholders of Telia Lietuva, AB on 13 May 2020.

Following the Law on Companies the Company should pay dividends within the one month following the day on which the decision on profit distribution was adopted. The Company plans to pay out dividends for the year 2019 on 26 May 2020.

Following Lithuanian laws dividends paid to natural persons–residents of the Republic of Lithuania and natural persons–residents of foreign countries are subject to withholding Personal income tax of 15 per cent. Dividends paid to legal entities of the Republic of Lithuania and legal entities–residents of foreign countries are subject to withholding Corporate income tax of 15 per cent, unless otherwise provided for by the laws.

- To elect UAB Deloitte Lietuva as the Company’s audit enterprise to perform the audit of the annual consolidated and separate financial statements of the Company for the year 2020, and to assess the consolidated annual report of the Company for the year 2020. To authorize the CEO of the Company to prolong existing or conclude new agreement for audit services, establishing the payment for services as agreed between the parties but in any case not more than EUR 124,000 (VAT excluded) (one hundred twenty four thousand euro) for the audit of the Company’s one financial year annual consolidated and separate financial statements and the assessment of the consolidated annual report.