Announcements

Māris Kuņickis, Member of the Management Board of Latvenergo AS and Chief Operating Officer has decided to resign from his position in the Management Board from 5 October 2018 and continue his career in the energy sector outside Latvia.

Māris Kuņickis has worked in the Management Board of Latvenergo AS since November 2010 and managed Latvenergo AS Generation Planning, Hydropower Plant (HPP) Technical Management, Combined Heat and Power Plant (CHPP) Technical Management, as well as Research & Development, Generation Projects, Technical Inspection and Environment and Occupational Health and Safety units.

As a Member of the Management Board of Latvenergo AS, M. Kuņickis assumed responsibility in the areas of generation, research and development, and environment and occupational health and safety that are significant for the Group. Among his achievements is the successful large-scale reconstruction of the Daugava HPPs, improving their efficiency. During his term of office as a Member of the Management Board, the reconstruction of Riga CHPP-2 was completed, which together with Riga CHPP-1 have proved themselves to be irreplaceable plants on the Baltic scale. This is ensured by the adaptation of the operations of Riga Combined Heat and Power Plants to the flexible work in the changeable mode of NordPool electricity market.

Member of the Supervisory Board of Latvenergo AS Māriņš Bičevskis: "On behalf of the Supervisory Board of Latvenergo AS, I express my gratitude for the contribution made by Māris Kuņickis to the development of Latvenergo Group and I wish him every success in his future endeavors".

M. Kuņickis took an active part in the establishment of the foundations for liberalisation of the natural gas market in Latvia and its further development. For the first time, the supply of natural gas has been diversified using Klaipeda LNG, thus contributing to the competitiveness of Latvenergo.

M. Kuņickis has made his contribution to the environmental projects of the Group, initiating and implementing unprecedented activities in Latvia. The project aimed at the study of fish migration and natural replenishment possibilities in the Daugava River has been continuing for several years with the involvement of Latvian and foreign specialists. M. Kuņickis has also participated in nature conservation and protection projects outside his professional duties.

M. Kuņickis is soon expected to start work in the management of another energy company outside Latvia.

Prior to his employment at Latvenergo, M. Kuņickis was the Executive Officer at Riga Municipality Agency Rīgas gaisma. From 2011, he was the Member of the Board of the Latvian Association of Power Engineers and Energy Constructors, and from 2012 he was the Deputy Member of the Board of Directors of EURELECTRIC.

The newMember of the Management Board of Latvenergo AS will beselected in a competitive recruitment procedure.