Announcements

Latvenergo AS has successfully issued its inaugural EUR 400 million 5-year EU Green Bond with a 3.612% coupon (Final Terms attached). As previously reported, the transaction was executed on 6 November 2025 with the participation of more than 140 investors, and total demand exceeded the targeted amount by 5.5 times, reaching EUR 2.2 billion ahead of final pricing. More than half of notes were allocated to sustainability-oriented investors.

The bond issue has been assigned a Baa2 rating by Moody’s Rating, consistent with the company’s credit rating.

This landmark issuance marks Latvenergo’s debut in the international bond markets and underscores the company’s commitment to sustainable financing and the long-term green transition. Classified as European Green Bonds, the proceeds will be allocated to EU Taxonomy-aligned projects in accordance with the European Green Bond Factsheet.

The allocation by investor type and geography is provided below:

This inaugural EU Green Bond achieves several notable milestones:

• First-ever benchmark-size EU Green Bond from CEEMEA
• First international Green Bond issued by a Latvian corporate
• Largest ever corporate bond issued by a Latvian company

This transaction sets a new benchmark for Latvian issuers and highlights Latvenergo’s strategic focus on raising sustainable financing - supporting both company's and Latvia’s broader climate and energy objectives.

The notes are admitted to trading on the regulated market of the Luxembourg Stock Exchange (Bourse de Luxembourg) and will be admitted to the regulated market of AS Nasdaq Riga.

DISCLAIMER 

The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered, sold, pledged or otherwise transferred in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

Please note that the information contained in the Final Terms and the base prospectus dated 30 October 2025 relating to the Programme, (the "Base Prospectus") may be addressed to and/or targeted at persons who are residents of particular countries (as specified in the Final Terms or the Base Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the respective offers contained in the Final Terms and Base Prospectus is not addressed. Prior to relying on the information contained in the Final Terms or Base Prospectus you must ascertain from the Final Terms or Base Prospectus whether or not you are part of the intended addressees of the information contained therein.

Final Terms