Interim report
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First six months 2026 interim report Verified by MarkSign.lt
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Ensuring energy system security Growing green energy Capturing synergies through an integrated business model Delivering long-term value for customers, society, and investors SECURE INTEGRATED GREEN VALUE-DRIVEN First six months 2026 interim report Our purpose is to create a 100% secure and green energy ecosystem for current and future generations A leading integrated energy group in the Baltic region 2 / 90 Verified by MarkSign.lt
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Contents MANAGEMENT REPORT FINANCIAL STATEMENTS 1. Overview .............................. 4 1.1 CEO’s statement ........................... 5 1.2 Business highlights ......................... 8 1.3 Performance highlights ..................... 10 1.4 Outlook ................................. 12 1.5 Investor information ........................ 13 2. Business overview ..................... 15 2.1 Business model and strategy ................. 16 2.2 Investment program ........................ 17 2.3 Business environment ...................... 20 3. Results .............................. 22 3.1 Results 6M ............................... 23 3.2 Results Q2 ............................... 34 3.3 Quarterly summary ........................ 36 3.4 Results by business segment ................ 38 4. Governance .......................... 47 4.1 Governance update ........................ 48 4.2 Risk management update ................... 53 5. Additional information 54 5.1 Notes on restated figures .................... 55 5.2 Other statutory information .................. 56 5.3 Terms and abbreviations .................... 58 5.4 Legal notice .............................. 60 6. Consolidated financial statements 61 6.1 Interim condensed consolidated statement of profit or loss ............................. 62 6.2 Interim condensed consolidated statement of comprehensive income ..................... 63 6.3 Interim condensed consolidated statement of financial position .......................... 64 6.4 Interim condensed consolidated statement of changes in equity ......................... 65 6.5 Interim condensed consolidated statement of cash flows ............................... 66 6.6 Notes ................................... 67 7. Parent company’s financial statements 78 7.1 Interim condensed statement of profit or loss and other comprehensive income ............. 79 7.2 Interim condensed statement of financial position ................................. 80 7.3 Interim condensed statement of changes in equity ................................. 81 7.4 Interim condensed statement of cash flows ...... 82 7.5 Notes ................................... 83 8. Responsibility statement 89 3 / 90 First six months 2026 interim report Verified by MarkSign.lt
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4 / 90 Overview 1.1 CEO’s statement 5 1.2 Business highlights 8 1.3 Performance highlights 10 1.4 Outlook 12 1.5 Investor information 13 First six months 2026 interim report / Overview Verified by MarkSign.lt
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Highlights Financial performance – Adjusted EBITDA: 306.6 EURm (+1.9% YoY). – Investments: 306.1 EURm with 68.0% to Networks and 26.3% to Green Capacities. – Dividend: intend to distribute a dividend of EUR 0.704/share (+3.1% YoY) for H1 2026 (51.0 EURm in total), subject to the decision of our GM to be held on 9 September 2026. – Credit rating: S&P reaffirmed ‘BBB+’ (stable outlook). – We reiterate our full-year 2026 Adjusted EBITDA guidance of EUR 550–600 million, and Investments guidance of EUR 590–690 million. Business development Green Capacities: – Installed Capacity stands at 2.1 GW, with additional 0.6 GW Under Construction; – debut asset rotation transaction completed; – Final Investment Decision made for the Tume BESS (107 MW / 215 MWh) project in Latvia after the reporting period. Customers & Solutions: – 1,907 (+108 since 31 December 2025) EV charging points installed. Sustainability – 1 contractor fatality reported during 6M 2026; employee TRIR at 0.48 (-0.24 YoY) and contractor TRIR at 1.11 (+0.68 YoY); – Carbon intensity (Scope 1 & 2): 187 g CO2-eq/kWh (-20.8% YoY). 1.1 CEO’s statement Darius Maikštėnas Chair of the Management Board and CEO 5 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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Financial performance In 6M 2026, our Adjusted EBITDA amounted to EUR 306.6 million and increased by EUR 5.8 million (+1.9%) compared to 6M 2025. The growth was driven by the stronger performance of the Networks and Customers & Solutions business segments. The Networks segment’s Adjusted EBITDA increased mainly due to higher RAB, a result of our continued Investments in the distribution network. The Customers & Solutions segment’s Adjusted EBITDA increased significantly in both electricity and natural gas activities, mainly due to higher volumes sold during the cold winter season and profitable one-off natural gas wholesale transactions in Q1 2026. In 6M 2026, our Investments amounted to EUR 306.1 million (-10.8% YoY). Investments in Networks grew by 26.1% to EUR 208.3 million in 6M 2026, accounting for 68.0% of the total Investments, while Green Capacities accounted for 26.3% of the total. The increase in Investments in the Networks segment was primarily driven by maintenance and expansion of the electricity distribution network, mainly due to the connection of several large B2B customers to the grid. Despite the growth in Networks investments, total Investments declined YoY, primarily due to lower Investments in the Green Capacities segment, as several projects reached COD in 2025. Investments in the Green Capacities segment amounted to EUR 80.4 million and were mainly directed towards the expansion of Kruonis PSHP, BESS as well as other ongoing projects. As of 30 June 2026, our Net Debt amounted to EUR 1,925.3 million, remaining largely unchanged, as proceeds from the sale of a 49% stake in Vilnius CHP covered the dividends paid. Supported by an increase in FFO LTM, our FFO LTM/Net Debt ratio improved to 22.2% (compared to 21.0% as of 31 December 2025). Also, after reporting period, S&P Global Ratings reaffirmed our ‘BBB+’ credit rating with a stable outlook, confirming our strong financial position. Furthermore, in line with our Dividend Policy, for 6M 2026 we intend to distribute a dividend of EUR 0.704 per share (+3.1% YoY), corresponding to EUR 51.0 million, which is subject to the decision of our General Meeting of Shareholders to be held on 9 September 2026. Following the 6M 2026 performance, our Adjusted EBITDA and Investments guidance for 2026 remains unchanged. We expect Adjusted EBITDA to be in the range of EUR 550–600 million and Investments in the range of EUR 590–690 million. Business development We maintained strong momentum in delivering our Green Capacities projects. By the end of 6M 2026, our Installed Capacity stood at 2.1 GW, while our 0.6 GW portfolio of projects Under Construction remained on track and progressed as planned, with no significant changes since Q1 2026. Significant progress was made across our BESS projects. Battery deliveries have been completed in Q2 at Kelmė BESS (147 MW / 295 MWh) and Mažeikiai BESS (45 MW / 90 MWh), and, after the reporting period, at Kruonis BESS (99 MW / 199 MWh). In addition, all inverter units have been delivered to Mažeikiai BESS, with deliveries to the remaining projects continuing as planned. The construction of the fifth unit (110 MW) at Kruonis PSHP continues to make strong progress – approximately 80% of the strategic project is already complete. All penstock segments have been manufactured and delivered to the construction site. At the power plant, the main components, including distributor, stator and rotor, have been preassembled and their tests successfully completed. Concreting works in the site are nearing completion, after which the preassembled components will be installed in their place. The project will increase the plant's total capacity to 1,010 MW and significantly Sustained strategic progress and consistent financial performance. Full-year 2026 guidance for Adjusted EBITDA and Investments reiterated We reiterate our full-year 2026 Adjusted EBITDA guidance of EUR 550–600 million, and Investments guidance of EUR 590–690 million. 6 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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enhance the flexibility and reliability of the Baltic energy grid. Additionally, after the reporting period, we made a Final Investment Decision regarding a 107 MW / 215 MWh Tume BESS in Latvia. By co-locating Tume BESS with our 174 MW Tume SF, which is currently Under Construction, we are maximising the projects’ efficiency through shared grid infrastructure and unified connections. The construction works of Tume BESS are expected to start in 2026, and its COD is estimated for 2028. The addition of the Tume project has increased the total capacity of our BESS projects Under Construction to 399 MW / 798 MWh and brought the total capacity of our projects Under Construction to 0.7 GW. Together, these assets will deliver the flexibility and stability required to power a resilient, renewable future across the Baltics. In the Customers & Solutions segment, the expansion of our EV charging network across the Baltics remains on track, with a total of 1,907 (+108 since 31 December 2025) EV charging points now installed across Lithuania, Latvia and Estonia. Sustainability Safeguarding the health and safety of our employees and contractors is among the Group’s highest priorities. However, during the reporting period, we had one fatal contractor incident. We are committed to take every possible measure to prevent such tragedies in the future. Our employee TRIR amounted to 0.48, and contractor TRIR to 1.11. The lower electricity generation from natural gas at Elektrėnai Complex was the main reason for a 20.8% decrease in carbon intensity (Scope 1 & 2) compared to 6M 2025 to 187 g CO 2-eq/kWh. Our Green Share of Generation amounted to 83.5% and increased by 19.7 pp YoY. Our total emissions amounted to 2.68 million t CO2-eq (+4.4% YoY). The balancing capacity services provided by Elektrėnai Complex led to a 46.3% decrease YoY in Scope 1 emissions. Scope 2 emissions increased by 6.5% YoY, reflecting the continued effect of the colder weather conditions experienced in 3M 2026 with the largest impact coming from higher grid losses. Scope 3 emissions increased by 15.9% YoY, mainly due to higher natural gas sales. Our Employee Net Promoter Score (eNPS) of 62.7 (-6.5 YoY) indicates that our comprehensive approach to employee wellbeing and the overall employee experience is being implemented effectively and continues to be strengthened. We aim to strengthen and expand women’s representation in management by advancing equal opportunities, supporting leadership development and ensuring fair and transparent selection processes. As a result of these continued efforts, women’s representation in top management has increased by 1.0 pp YoY to 28.7%. Darius Maikštėnas Chair of the Management Board and CEO 7 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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January Green Capacities: – The Mažeikiai BESS (45 MW / 90 MWh) project has been awarded EUR 2.2 million in state aid. Governance: – For the fifth year in a row, we were awarded the international Top Employer 2026 Lithuania Certificate for applying the highest HR management standards. March Green Capacities: – We completed the sale of the 49% stake in Vilnius CHP to Quaero Capital. Customers & Solutions: – For the first time, we delivered an LNG cargo to Ukraine’s Naftogaz, thus strengthening regional energy security and supporting Ukraine’s gas supply resilience. Governance: – We received an updated Letter of Expectations from the Ministry of Finance of the Republic of Lithuania (Majority Shareholder). It expressed the expectation of continuity of strategic directions and set new priorities. – The AGM held on 25 March passed a resolution, among others, on the allocation of dividends for H2 2025 (EUR 0.683 DPS, or EUR 49.4 million in total). – The Supervisory Board elected the Management Board for a new term. It comprises five members, four of whom, including the CEO, served on the previous Management Board. 1.2 Business highlights February Customers & Solutions: – We entered the B2C electricity supply market in Latvia (link in Latvian). Customers & Solutions: – Following an in-depth investigation reopened after a 2021 General Court judgment, the European Commission decided on 7 April 2026 (case SA.44678) that compensation related to natural gas boil-off and balancing costs paid to UAB “Ignitis” (formerly UAB LITGAS) for 2016–2018 complies with EU State aid rules under the SGEI Framework and requires no repayment. The decision may be appealed to the General Court within two months of publication. Governance: – Following the decision of the Annual General Meeting of Shareholders on 25 March 2026, the Group introduced a new business line – data centre development – aimed at exploring opportunities to attract potential development partners. For this purpose, on 21 April 2026 we established a new company, UAB “Ignitis Data Center Solutions”. The parent company is its sole shareholder, holding 100% of its shares and voting rights. April 8 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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May Strategy: – We announced our Strategic Plan 2026–2029. Green Capacities: – The first BESS components have been delivered to the sites Kelmė BESS (147 MW / 295 MWh), Mažeikiai BESS (45 MW / 90 MWh) and Kruonis BESS (99 MW / 199 MWh), marking a key milestone in the development of one of the largest energy storage projects in Lithuania. The project is expected to reach COD in 2027. Governance: – We were recognised for IR excellence for the third time in the IR Impact Awards Europe 2026. June Green Capacities: – We received positive Environmental Impact Assessment for the Curonian Nord offshore wind project. – Following the National Audit Office’s review of the Curonian Nord project in November 2025, three recommendations were provided to the Group. Two recommendations have already been fully implemented. With regard to the third recommendation, an analysis of internal and external factors affecting the implementation of the Curonian Nord offshore wind farm project was completed and submitted to the relevant stakeholders. All measures aimed at implementing the recommendations were completed within the set deadlines. Customers & Solutions: – We have secured 4 TWh of annual regasification capacity at the Klaipėda LNG terminal for the 2033–2044 period. This ensures long-term access to the global LNG market and greater natural gas supply flexibility. Finance: – We concluded an additional EUR 150 million financing agreement with European Investment Bank for Kelmė WF (313.7 MW). – We allocated EUR 4 million to Lithuania’s Development Cooperation and Humanitarian Aid Fund. The funds will be directed to priority projects aimed at restoring Ukraine’s energy infrastructure and increasing its resilience. Governance: – We have announced the selection of a new Group CEO, as the second term of the current CEO, Darius Maikštėnas, ends on 28 February 2027. – Andrius Kavaliauskas was appointed as the new CEO of UAB “Ignitis” (Customers & Solutions). Green Capacities: – We made a Final Investment Decision regarding a 107 MW / 215 MWh Tume BESS in Latvia. Networks: – We signed a memorandum of understanding with Latvia’s electricity distribution system operator, Sadales Tīkls, to strengthen cross-border cooperation and mutual support in responding to large- scale power outages caused by extreme weather and other disruptions as well as enhance the resilience and reliability of the Baltic electricity distribution networks (link in Lithuanian). Customers & Solutions: – We have additionally secured 2 TWh of annual regasification capacity at Klaipėda LNG terminal for the 2033–2044 period. This ensures long-term access to the global LNG market and greater natural gas supply flexibility. – The Parliament of the Republic of Lithuania has approved legislative amendments related to the proposed updates to the prosumer regulation model, securing the net-metering model indefinitely. Starting 1 January 2027, the tariff for energy services of general interest (VIAP in Lithuanian) will be funded by prosumers (up to EUR 0.01/kWh) and other consumers (up to EUR 0.003/kWh). Additionally, the adopted law codifies a market-rate compensation for accumulated but unused electricity, requiring suppliers to apply a price no lower than the weighted average prices in the Lithuanian bidding area during the periods when prosumers fed energy into the grid. These amendments are expected to reduce the losses of the independent suppliers related to prosumer supply activities. The exact impact will depend on the methodology established by NERC for assessing prosumers’ losses, the outcome of the related audits, market dynamics and price spreads, as well as the final VIAP tariff set by regulator (NERC). Finance: – S&P Global Ratings reaffirmed our ‘BBB+’ (stable outlook) credit rating. Other: – On 11 August 2026, we have launched a partner search and selection process for the development of data centres. The scope of the partnership includes transfer of a controlling stake in UAB Kruonis DC and, potentially, other data centre companies currently controlled by the Group to a potential experienced partner to lead further development, construction, operation and management of a large – scale data centre project(s) in Lithuania. After reporting period 9 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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1.3 Performance highlights Financial EBITDA EURm 6M 2025 6M 2026 262.5 303.5300.8 306.6 Adjusted EBITDA amounted to EUR 306.6 million in 6M 2026 and was EUR 5.8 million (1.9%) higher than in 6M 2025. +1.9% Reported Adjusted Net profit EURm 6M 2025 6M 2026 111.4 113.2 146.2 115.8 The decrease was primarily driven by higher depreciation and amortisation and lower financial activity results, which offset the Adjusted EBITDA growth. In March 2026, the Group completed the sale of a 49.0% stake in its subsidiary, Vilnius CHP. The gain arising from the transaction is recognised in the parent company’s financial statements; however, it is eliminated upon consolidation and does not affect the consolidated net profit. (20.8%) Reported Adjusted ROCE LTM % 6M 2025 6M 2026 7.7 6.1 8.6 6.7 The Adjusted ROCE LTM decrease is mainly related to lower Adjusted EBIT LTM of the Green Capacities segment, resulting from less favourable weather and market conditions. (1.9 pp) Reported Adjusted Investments EURm 6M 2025 6M 2026 343.2 We continued to invest in Networks and Green Capacities – 68.0% of the total Investments were made in the Networks segment and 26.3% in the Green Capacities segment. The increase in Investments in the Networks segment (EUR +43.1 million) was mostly driven by higher Investments in the electricity network maintenance and expansion. Lower Investments in the Green Capacities segment (EUR -76.0 million) were mainly related to several projects reaching COD in 2025. (10.8%) 546.1 720.3 550–600Guidance 2026 (12 Aug 2026) 590–690Guidance 2026 (12 Aug 2026) Realised 2025 Realised 2025 550–600 590–690 Guidance 2026 (13 May 2026) Guidance 2026 (13 May 2026) Following the 6M 2026 performance, we reiterate our full-year 2026 Adjusted EBITDA guidance of EUR 550–600 million, and Investments guidance of EUR 590–690 million. Adjusted EBITDA , EURm Investments , EURm Outlook for 2026 306.1 550–600 590–690 Guidance 2026 (25 Feb 2026) Guidance 2026 (25 Feb 2026) (0.3%) Net Debt EURm 31 Dec 2025 30 Jun 2026 1,912.0 Net Debt remained flat. Dividends, interest and income tax paid were offset by the proceeds from the sale of a 49.0% stake in Vilnius CHP and lower working capital needs. +0.7% Net Working Capital EURm 31 Dec 2025 30 Jun 2026 43.6 The major driver behind the decrease in Net Working Capital was decrease in trade and accrued receivables as a result of lower electricity- and gas- related revenue due to seasonality. (21.6) Net Debt/Adjusted EBITDA LTM, FFO LTM/Net Debt Times, % 31 Dec 2025 30 Jun 2026 3.50 22.2%21.0% 3.49 The FFO LTM/Net Debt ratio improved as FFO LTM increased. Net Debt/Adjusted EBITDA LTM FFO LTM/Net Debt 22.0 1,925.3 +1.2 pp 10 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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ESG Electricity Generated (net), Green Share of Generation TWh, % A 0.52 TWh (23.2%) decrease in Electricity Generated (net) was driven by lower generation at Elektrėnai Complex (Reserve Capacities), as the volume of balancing capacity services provided in 6M 2026 was lower compared to 6M 2025. The Green Share of Generation increased by 19.7 pp to 83.5%. Reserve Capacities Green Capacities Green Share of Generation Carbon intensity Installed Green Capacities GW 31 Dec 20256M 2025 6M 2025 Installed Green Capacities remained flat at 2.1 GW. GHG emissions, million t CO2-eq Carbon intensity, g CO2-eq/kWh Our total emissions amounted to 2.68 million t CO2-eq (+4.4% YoY). The lower electricity generation in Elektrėnai Complex due to lower need of balancing capacity services led to a 46.3% YoY decrease in Scope 1 emissions. Scope 2 emissions increased by 6.5% YoY , reflecting the continued effect of colder weather conditions experienced in 3M 2026, with the largest impact coming from higher grid losses. Scope 3 emissions increased by 15.9% YoY, mainly due to higher natural gas sales. Scope 3 Scope 1 Scope 2 2.682.571 2.03 0.08 2.35 0.080.46 2.25 63.8% 83.5% 2.1 1.73 30 Jun 20266M 2026 6M 2026 1.44 0.29 1.44 0.82 2.1 +0.0 GW +4.4% +0.01 TWh (0.52) TWh 1 This figure has been restated compared to the First six months 2025 interim report (the number reported previously: 2.61 million t CO2-eq). For more information, see Note 1 in section ‘5.1 Notes on restated figures’ of this report. Safety TRIR 6M 2025 6M 20256M 2026 6M 2026 1.11 Employees Contractors 0.48 Ensuring the health and safety of our employees and contractors is one of the most fundamental priorities of the Group. However, in February 2026 a contractor employee was fatally injured during work. We are committed to take every possible measure to prevent such tragedies in the future. Our employee TRIR has improved and amounted to 0.48 in 6M 2026, as the number of safety incidents decreased from 3 to 2, and contractor TRIR amounted to 1.11. Number of employees Headcount 31 Dec 2025 30 Jun 2026 4,8074,851 The Group’s headcount decreased by 44 (0.9%). (44) Supervisory and Management Boards Nationality and gender diversity As of 30 June 2026, the main governing bodies of the Group were represented by 57% female, 43% male and 43% international members. Network quality (electricity) SAIDI, min/SAIFI, times Electricity quality indicators slightly deteriorated YoY, mainly due to adverse weather conditions. Extreme temperatures increased the demand and pressure on the network, while heavy snowfall in Q1 and stronger winds in Q2 further affected the network’s performance. 6M 2025 6M 2026 46 SAIDI 37 6M 2025 6M 2026 0.53 SAIFI 0.50 0.72 0.43 Female Male Lithuanian International 6 8 8 6 Gender Nationality 0.25 236 187 11 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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1.4 Outlook Adjusted EBITDA guidance We reiterate our Adjusted EBITDA guidance for 2026. As provided in our Integrated Annual Report 2025, we expect Adjusted EBITDA to be in the range of EUR 550–600 million. The main drivers of Adjusted EBITDA and directional guidance for the business segments remains unchanged compared to that disclosed in our First three months 2026 interim report , as illustrate below. 1 Adjusted EBITDA indication for the Group is the prevailing guidance, whereas directional effect per business segment serves as a mean to support it. Higher/stable/lower indicates the direction of the business segment’s expected change in 2026 relative to the actual results for 2025. Adjusted EBITDA guidance for 2026 EURm1 Investments guidance for 2026 EURm Investments guidance We reiterate our Investments guidance for 2026. As provided in our Integrated Annual Report 2025, we expect Investments to amount in the range of EUR 590–690 million. There are no changes in the main drivers of Investments for 2026. Detailed information on Adjusted EBITDA and Investments guidance is provided in section ‘1.4 Outlook’ of our Integrated Annual Report 2025. Forward-looking statements As this report contains forward-looking statements, see section ‘5.4 Legal notice’ for further details. 550–600 590–690 2025 Adjusted EBITDA 2025 Investments 2026 Adjusted EBITDA guidance 2026 Investments guidance = Networks Reserve Capacities Customers & SolutionsGreen Capacities 546.12.0 291.5 263.4 (48.5) 37.7 720.311.8 29.4 10.7 285.9 382.5 12 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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1.5 Investor information Overview In 6M 2026, the Group’s ordinary registered shares (ORS) and global depositary receipts (GDR) have generated a total shareholder return (TSR) of 3.4% and -0.6% respectively. During the same period, the TSR of our benchmark index (Euro Stoxx Utilities) equalled to 20.0%. In 6M 2026, the total (ORS and GDR) turnover was EUR 58.45 million (EUR 55.61 million on Nasdaq Vilnius and EUR 2.85 million on London Stock Exchange, LSE), down from EUR 70.42 million in 6M 2025, whereas the average daily turnover totalled to EUR 0.48 million (EUR 0.46 million on Nasdaq Vilnius and EUR 0.02 million on LSE), down from EUR 0.58 million in 6M 2025. At the end of the reporting period, the Group’s market capitalisation was EUR 1.5 billion. Currently, the Group is covered by 5 equity research analysts. Their recommendations and target prices are available on our website. Dividends In line with our Dividend Policy, for 6M 2026 we intend to distribute a dividend of EUR 0.704 per share (+3.1% YoY), corresponding to EUR 51.0 million, which is subject to the decision of our General Meeting of Shareholders to be held on 9 September 2026. Price development in 6M 2026, EUR1 Euro Stoxx Utilities: SX6E Nasdaq Vilnius: IGN1L (ordinary registered shares, ORS) LSE: IGN (global depository receipts, GDRs) 3.4%0.2% Price change TSR 20.0%16.7% (3.6%) (0.6%) Performance information in 6M 2026 Nasdaq Vilnius LSE Combined Period opening1, EUR 21.20 22.00 - Period high1 (date), EUR 22.70 (26 Jan) 23.00 (22 Jan) 23.00 Period low1 (date), EUR 21.00 (8 Jun) 20.80 (28 Jun) 20.80 Period VWAP, EUR 21.68 21.72 21.70 Period closing1, EUR 21.25 21.20 - Period turnover (average daily)2, EURm 55.61 (0.46) 2.85 (0.02) 58.45 (0.48) Market capitalisation, period-end1, EURbn - - 1.5 1 Trading day closing price. 2 In 6M 2025, the total (ORS and GDR) turnover was EUR 70.42 million (EUR 63.00 million on Nasdaq Vilnius exchange and EUR 7.42 million on LSE), whereas the average daily turnover totalled to EUR 0.58 million (EUR 0.52 million on Nasdaq Vilnius exchange and EUR 0.06 million on LSE). 1 Indexed at 100. 120 115 110 105 100 95 90 January February March April May June 13 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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Parameters of the equity securities Nasdaq Vilnius LSE Combined Type Ordinary registered shares (ORS) Global Depositary Receipts (GDR) - ISIN-code LT0000115768 Reg S: US66981G2075 Rule 144A: US66981G1085 - Ticker IGN1L IGN - Nominal value, EUR - - 22.33 per share Number of shares (share class)2 - - 72,388,960 (one share class) Number of treasury shares (%) - - - Free float, shares (%) - - 18,105,203 (25.01%) ORS vs GDRs split 81.57% 18.43% 100% Shareholder composition (at the end of the reporting period)1 74.99% 13.43% 11.58% Financial calendar 2026 Financial calendar is available on our website and is immediately updated if there are any changes. Selected relevant information Investor relations webpage Dividend General Meetings Bonds Credit ratings Financial calendar Extraordinary General Meeting of Shareholders (regarding the potential allocation of dividends for the six-month period ended on 30 June 2026) Expected Ex-Dividend Date (for ordinary registered shares) Expected Dividend Record Date (for ordinary registered shares) First nine months 2026 interim report 9 September 2026 22 September 2026 23 September 2026 11 November 2026 1 No other parties besides the Majority Shareholder (the Republic of Lithuania, whose rights and obligations are exercised by the Ministry of Finance of the Republic of Lithuania) hold more than 5% of the parent company’s share capital. 2 They are all the same class of shares, each entitled to equal voting and dividend rights, specifically – one vote at the General Meetings of Shareholders, and to equal dividend. Retail investors Majority Shareholder Institutional investors 14 / 90 First six months 2026 interim report / Overview Verified by MarkSign.lt
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15 / 90 Business overview 2.1 Business model and strategy 16 2.2 Investment program 17 2.3 Business environment 20 First six months 2026 interim report / Business overview Verified by MarkSign.lt
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Green Capacities Developing and operating green generation and green flexibility assets Strategic focus 2.8–3.2 GW by 2029 #1 in the Baltics1 Reserve Capacities Highly regulated gas-fired units #1 in the Baltics¹ Strategic focus Contributing to the security of the energy system Customers & Solutions Supply of electricity and gas Strategic focus Value-driven growth through outstanding customer experience #1 in the Baltics3 2.1 Business model and strategy Ignitis Group is a leading integrated energy group, benefiting from the largest customer portfolio, energy storage facility and network in the Baltics. The Group is active in the Baltic states, Poland and Finland. In recent years, we have delivered strong strategic growth, nearly doubling our Installed Green Capacities. Over the 2026-2029 period, we put our strategic focus on green flexibility and Networks, with embedded value-over-volume approach. With a purpose of creating a 100% secure and green energy ecosystem, we lead the regional energy transition, which contributes to the competitiveness and economic growth in the region. We secure local, reliable energy to support household well being, enhance business competitiveness and attract energy intensive industries. Our strategic goal is to deliver 4–5 GW of Green Capacities: by developing green generation and flexibility in line with market demand and system needs, we deliver disciplined and value-creating decarbonisation. Strategic priorities of Ignitis Group are: secure, green, integrated, and value-driven. Every year we publish a 4-year strategic plan. It defines our focus areas and key targets. Please visit our Strategy page on the Group’s website to get acquainted with the latest Strategic Plan 2026–2029 and other related information. Our purpose is to create a 100% secure and green energy ecosystem for current and future generations Networks Fully regulated country-wide natural monopoly #1 in the Baltics2 Strategic focus Building a resilient and efficient network that enables electrification 1 Based on Installed Capacity. Total capacity across all geographies among companies with HQ in the Baltics. 2 Based on the network size, RAB, and the number of customers. 3 Based on the number of customers. Note: data as of 31 March 2026, except Adjusted EBITDA, which is provided for 2025, and Networks RAB, which is provided for 2026, as approved by the regulator (NERC). Other activities and eliminations comprise 0.4% of 2025 Adjusted EBITDA. Adjusted EBITDA 2025 53.4% 48.2% -8.9% 6.9% 546.1 EURm 16 / 90 First six months 2026 interim report / Business overview Verified by MarkSign.lt
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2.2 Investment program Overview The Group makes investment decisions based on a four-year investment plan. Over the period of 2026–2029, the Group targets to invest EUR 2.5–3.0 billion, or around EUR 625–750 million annually, primarily towards sustainable growth in the Networks and Green Capacities business segments. Around 55% of the total Investments are directed towards the Networks segment, its expansion and maintenance, while around 40% of the Investments are directed towards the Green Capacities expansion. To successfully implement our investment plan while achieving financial targets, including a commitment to increase dividends annually, we have established and apply a disciplined investment policy. We disclose the updates on our key investments in the Green Capacities and Networks segments in our interim and annual reports. The information on the key ongoing investment projects is presented below. More information on the investment program is available in the Strategy section of our website and on our Integrated Annual Report 2025. Green Capacities In 6M 2026, our Installed Capacity stood at 2.1 GW, while our Secured Capacity stood at 3.4 GW. After the reporting period, we increased our projects Under Construction by 0.1 GW to 0.7 GW (from 0.6 GW), following the Final Investment Decision for the Tume BESS (107 MW / 215 MWh) project in Latvia. The implementation of our Green Capacities projects Under Construction is progressing as planned, with no significant changes since Q1 2026. Secured Capacity portfolio GW Secured Capacity portfolio split 31 Mar 2026 30 Jun 2026 Secured Capacity Installed Capacity +0.0 GW By geography By type By technology Estonia 0.02 GWPoland 0.3 GW Latvia 0.4 GW Lithuania 2.7 GW Flexibility 1.3 GW Generation 2.1 GW Installed Capacity Under Construction Awarded / Contracted Hydro 1.1 GW Solar 0.5 GW Biomass & WtE 0.1 GW Offshore wind 0.7 GW Onshore wind 0.7 GW BESS 0.3 GW 3.4 GW 3.4 GW 3.4 GW +0.0 GW 2.1 3.4 0.7 0.6 2.1 3.4 0.7 0.6 31 Dec 2025 2.1 3.4 0.7 0.6 17 / 90 First six months 2026 interim report / Business overview Verified by MarkSign.lt
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Project name Tume SF Kruonis PSHP expansion Kelmė BESS Kruonis BESS Mažeikiai BESS Tume BESS TOTAL Country Latvia Lithuania Lithuania Lithuania Lithuania Latvia Technology Solar Hydro BESS BESS BESS BESS Capacity 174 MW 110 MW 147 MW / 295 MWh 99 MW / 199 MWh 45 MW / 90 MWh 107 MW / 215 MWh 0.7 GW Turbine / module / other type of unit manufacturer 174 MW Trina Solar 1 x 110 MW Voith Hydro 147 MW Rolls-Royce 99 MW Rolls-Royce 45 MW Rolls-Royce 107 MW Rolls-Royce Total investments1 105.8 EURm 150.0 EURm 63.4 EURm 46.6 EURm 20.7 EURm 35.8 EURm ~422.3 EURm Investments made by 30 June 2026 86.9 EURm 109.3 EURm 18.2 EURm 12.5 EURm 5.9 EURm 0.3 EURm ~233.1 EURm Ownership 100% 100% 100% 100% 100% 100% Partnership n/a n/a n/a n/a n/a n/a Progress FID made + + + + + + WTGs erected (units) / solar modules & inverters installed (MW) / other type of turbines or units installed (units) 134 / 174 0 / 1 – – – – First power / heat supplied to the grid – – – – – – Expected COD 2026 2026 2027 2027 2027 2028 Status On track On track On track On track On track On track Status of projects Under Construction 1 Including project acquisition and construction works. 18 / 90 First six months 2026 interim report / Business overview Verified by MarkSign.lt
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Status on key investment projects Project name Electricity network expansion Electricity network maintenance and other Natural gas network TOTAL Country Lithuania Lithuania Lithuania – Investments in 2024–2033 (10-year Investment Plan) ~EUR 2.0 billion ~EUR 1.3 billion ~EUR 0.2 billion ~EUR 3.5 billion Investments in 2026–2029 (Strategic plan) ~50% ~46% ~4% ~EUR 1.4–1.6 billion Investments covered by customers and grants (3-year average) ~30% (covered by customers’ fees) ~4% (covered by EU funds on a project-by-project basis) ~15% (covered by customers’ fees) ~21% Ownership 100% 100% 100% 100% Progress In 6M 2026, 21,326 new electricity customers (14,507 in Q2 2026) were connected (-22.4% YoY) and 9,019 capacity upgrades (5,037 in Q2 2026) were carried out (-23.7% YoY). It resulted in around 398 km (330 km in Q2 2026) of new power lines. In 6M 2026, around 407 km (215 km in Q2 2026) of power lines were reconstructed (+57.1% YoY). Around 88% of the reconstructed power lines were replaced with underground cables. In 6M 2026, 812 new natural gas customers (636 in Q2 2026) were connected (-0.4% YoY), which resulted in around 6.5 km (6.1 km in Q2) of new pipelines. Around 4.5 km (2.0 km in Q2) of pipelines were reconstructed (+155.7% YoY). Status On track On track On track Networks In 6M 2026, we continued the execution of our EUR 3.5 billion 10-year investment plan, with a primary focus on expanding the electricity network and facilitating the market as well as improving network resilience and efficiency. 19 / 90 First six months 2026 interim report / Business overview Verified by MarkSign.lt
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The Group’s performance is influenced by prevailing macroeconomic conditions and industry-specific developments in the markets in which it operates. To assess the business environment and identify potential opportunities and challenges, we continuously monitor the key economic indicators and sector trends. Our commitment to providing a comprehensive overview extends to highlighting relevant changes in the regulatory environment and the most relevant changes in the macroeconomic and industry environment, which serve as the foundation for our understanding of the markets we operate in. Macroeconomic environment GDP In 6M 2026, GDP growth in the euro area and the European Union (EU) increased by 1.0% and 1.2% YoY respectively. Looking ahead, GDP growth in the euro area is expected to slow down to 0.9% in 2026 before picking up again to 1.2% in 2027, while the EU’s GDP growth is expected to remain at 1.1% in 2026 before increasing to 1.4% in 2027. Lithuania recorded the highest GDP growth rate among all EU Member States, significantly outperforming both the euro area and EU averages. Looking ahead, Lithuania’s GPD growth is expected to settle around 3.0% in 2026 before slowing down to 2.1% in 2027. Meanwhile, Estonia and Finland also recorded GDP growth of 2.1% and 2.5% respectively, performing well above the euro area and EU averages. According to the latest Eurostat's spring forecast, GDP growth in the countries we are active in is expected to exceed or remain close to the EU and euro area averages in 2026 and 2027. Inflation In 6M 2026, the annual inflation rate in the euro area increased to 2.8%, up from 2.2% in 6M 2025. Similarly, inflation in the EU rose to 2.9%, compared to 2.5% in 6M 2025. Among the countries we are active in, Lithuania recorded the highest inflation rate at 5.4% (3.2% in 6M 2025). Inflation moderated across the remaining countries, with the sharpest decline observed in Estonia, where inflation fell to 2.0% (5.2% in 6M 2025). However, inflation in Latvia (3.3%), Poland (3.0%) and Finland (2.7%) remained close to the euro area and the EU averages. Looking ahead, in 2026, the highest harmonised CPI rates are projected in Lithuania, Estonia, Latvia and Poland. By 2027, Lithuania, Estonia and Poland are expected to face the highest inflation, while the other countries we operate in should stay close to or below both the EU and the euro area averages. 2.3 Business environment 6M 2026 2026F 2027F Lithuania +5.4 +4.4 +2.7 Latvia +3.3 +3.6 +2.2 Estonia +2.0 +4.4 +2.9 Finland +2.7 +2.4 +1.9 Poland +3.0 +3.6 +2.9 Euro area +2.8 +3.0 +2.3 EU +2.9 +3.1 +2.4 Source: Eurostat. GDP change, % Inflation rate change measured by harmonised CPI, % 6M 2026 vs 6M 2025 2026F 2027F Lithuania +3.8 +3.0 +2.1 Latvia -1 +1.4 +1.6 Estonia +2.1 +1.6 +1.7 Finland +2.5 +0.8 +1.4 Poland -1 +3.5 +2.8 Euro area +1.0 +0.9 +1.2 EU +1.2 +1.1 +1.4 Source: Eurostat. 1 No data is released yet. 20 / 90 First six months 2026 interim report / Business overview Verified by MarkSign.lt
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Industry environment – In 6M 2026, Nord Pool’s wholesale electricity prices increased across all Baltic states, Finland and Poland. The Nord Pool system price surged by 127.2%. The greatest price hike, from among the countries we operate in, was recorded in Finland, where prices grew by 96.7%, followed by Lithuania, Latvia, Estonia and Poland. The rising prices across these countries were primarily driven by higher reliance on gas-fired generation, due to an exceptionally cold winter, and less favourable renewables generation during the spring period. In Finland, gas fired electricity generation rose by 115.6% compared to 6M 2025, while in Poland it increased by 12.1%. At the latter country, it has been gradually displacing hard coal in the merit order while exerting upward pressure on the market prices. – In 6M 2026, electricity generation increased across all the countries we operate in, except Estonia. Latvia recorded the strongest growth in the region, with generation rising by 23.5% compared to 6M 2025. This growth was primarily driven by a 28.2% increase in fossil-fuel-based generation, supported by higher ancillary service orders for thermal power plants, as well as a 177.2% increase in solar generation following the commissioning of new assets. Electricity generation in Lithuania rose by 8.7%, largely supported by higher renewables output, with wind generation rising by 29.4% and solar generation by 28.8%. In contrast, Estonia experienced a 5.9% decline in domestic production, mainly due to a 22.6% reduction in oil shale-fired generation and 17.7% reduction in gas-fired generation. During Electricity and natural gas prices in the countries where the Group is active Nord Pool system 81.7 EUR/MWh (+127.2%) TTF 39.7 EUR/MWh (-6.0%) Finland 75.9 EUR/MWh (+96.7%) 49.8 EUR/MWh (+10.7%) Estonia 95.3 EUR/MWh (+11.8%) 48.4 EUR/MWh (+10.6%) Latvia 103.9 EUR/MWh (+18.2%) 48.4 EUR/MWh (+10.6%) Lithuania 105.3 EUR/MWh (+22.8%) 47.7 EUR/MWh (+6.1%) Poland 109.9 EUR/MWh (+10.0%) 47.3 EUR/MWh (+4.8%) Average electricity price in 6M 2026 (vs 6M 2025) Average natural gas price in 6M 2026 (vs 6M 2025) Nord Pool countries 6M 2026 6M 2025 Δ, % Lithuania 6.4 5.8 9.3% Latvia 3.9 3.5 9.3% Estonia 4.3 4.0 7.0% Finland 46.1 43.3 6.5% Poland 46.8 44.5 5.2% Total 107.5 101.1 6.3% 6M 2026 6M 2025 Δ, % Lithuania 5.4 5.0 8.7% Latvia 4.0 3.2 23.5% Estonia 2.6 2.8 (5.9%) Finland 42.5 39.7 7.0% Poland 81.9 77.7 5.5% Total 136.4 128.4 6.2% Consumption, TWh 6M 2026 6M 2025 Δ, % Lithuania 10.1 8.7 16.1% Latvia 6.1 4.8 26.2% Estonia 2.3 1.9 22.5% Finland 7.9 7.2 9.6% Poland 118.4 107.5 10.1% Total 144.8 130.1 11.3% Consumption, TWh Generation, TWh Electricity Natural gas the reporting period, electricity consumption increased across all countries we operate in, primarily due to the colder than average winter season and rising demand in the industrial sector. – European gas markets remained volatile and sensitive to geopolitical developments in the Middle East, with Dutch TTF index trading around 40–55 EUR/MWH in Q2 2026 and averaging 28.0% above the same period last year. As global physical LNG markets remain disrupted, the uncertainty regarding future price developments remains high. The Baltic states and Finland are not physically dependent on LNG deliveries from the Middle East, so supply chains in the region continue to operate as usual. 21 / 90 First six months 2026 interim report / Business overview Verified by MarkSign.lt
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22 / 90 Results First six months 2026 interim report / Results 3.1 Results 6M 23 3.2 Results Q2 34 3.3 Quarterly summary 36 3.4 Results by business segments 38 Verified by MarkSign.lt
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3.1 Results 6M 6M 2026 6M 2025 Δ Δ, % 6M 2026 6M 2025 Δ Δ, % Adjusted Reported Total revenue 1,500.6 1,336.3 164.3 12.3% 1,497.5 1,298.0 199.5 15.4% Purchase of electricity, natural gas and other services (993.4) (849.4) (144.0) 17.0% (993.4) (849.4) (144.0) 17.0% OPEX (200.6) (186.1) (14.5) 7.8% (200.6) (186.1) (14.5) 7.8% Salaries and related expenses (104.4) (92.7) (11.7) 12.6% (104.4) (92.7) (11.7) 12.6% Repair and maintenance expenses (32.9) (32.2) (0.7) 2.2% (32.9) (32.2) (0.7) 2.2% Other OPEX (63.3) (61.2) (2.1) 3.4% (63.3) (61.2) (2.1) 3.4% EBITDA 306.6 300.8 5.8 1.9% 303.5 262.5 41.0 15.6% Depreciation and amortization (127.3) (100.1) (27.2) 27.2% (127.3) (100.1) (27.2) 27.2% Write-offs, revaluation and impairment losses of property, plant and equipment and intangible assets (3.7) (2.1) (1.6) 76.2% (3.7) (2.1) (1.6) 76.2% Operating profit (EBIT) 175.6 198.6 (23.0) (11.6%) 172.5 160.3 12.2 7.6% Finance activity, net (37.4) (26.6) (10.8) 40.6% (37.4) (29.4) (8.0) 27.2% Income tax (expenses)/benefit (22.4) (25.8) 3.4 (13.2%) (21.9) (19.5) (2.4) 12.3% Net profit 115.8 146.2 (30.4) (20.8%) 113.2 111.4 1.8 1.6% EPS, EUR n/a n/a n/a n/a 1.57 1.54 0.03 1.9% DPS1, EUR n/a n/a n/a n/a 0.704 0.683 0.021 3.1% Consolidated statement of profit or loss, EURm 6M 2026 6M 2025 Δ Δ, % Customers & Solutions 818.2 630.3 187.9 29.8% Networks 411.9 353.4 58.5 16.6% Green Capacities 263.2 271.9 (8.7) (3.2%) Reserve Capacities 101.9 150.8 (48.9) (32.4%) Other activities and eliminations (97.7) (108.4) 10.7 9.9% Total revenue 1,497.5 1,298.0 199.5 15.4% Revenue, EURm Revenue In 6M 2026, the total revenue increased by EUR 199.5 million compared to 6M 2025. The main contributors to the changes in revenue were the following: – the Customers & Solutions segment’s revenue was 29.8% (EUR 187.9 million) higher than in 6M 2025, driven by better electricity and natural gal supply results due to colder winter weather. Electricity revenue increased due to higher volume supplied (+15.5%) as well as higher average electricity market price (+15.0% in the Lithuanian bidding area). Natural gas revenue increased due to higher volume supplied (+42.2%); – the Networks segment’s revenue was 16.6% (EUR 58.5 million) higher than in 6M 2025, mainly due to higher electricity and natural gas distribution volumes, supported by colder-than- usual weather conditions in Q1; – the Green Capacities segment’s revenue was 3.2% (EUR 8.7 million) lower than in 6M 2025, mainly due to lower generated electricity volume and captured price; – the Reserve Capacities segment’s revenue was 32.4% (EUR 48.9 million) lower than in 6M 2025, mainly driven by the lower result of our balancing capacity services. The negative amount under ‘Other activities and eliminations’ primarily reflects the removal of intragroup transactions. More detailed information is provided in section ‘6 Consolidated financial statements’, note ‘6 Revenue’. 1 For 6M 2026 we intend to distribute a dividend of EUR 0.704 per share (+3.1% YoY), corresponding to EUR 51.0 million, which is subject to the decision of our General Meeting to be held on 9 September 2026. 23 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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EBITDA Adjusted EBITDA amounted to EUR 306.6 million in 6M 2026 and was EUR 5.8 million (1.9%) higher than in 6M 2025. The main contributors to the changes in Adjusted EBITDA were the following: – the Green Capacities segment’s Adjusted EBITDA was 10.4% (EUR 17.4 million) lower than in 6M 2025, mainly due to lower captured prices; – the Networks segment’s Adjusted EBITDA was 11.1% (EUR 14.7 million) higher than in 6M 2025, mainly due to higher RAB; – the Reserve Capacities segment’s Adjusted EBITDA was 38.5% (EUR 11.2 million) lower than in 6M 2025. The decrease was driven by the lower result of our balancing capacity services and was partly offset by higher gross profit from electricity generation; – the Customers & Solutions segment’s Adjusted EBITDA was EUR 27.9 million higher than in 6M 2025. The increase was driven by better electricity supply results as well as higher natural gas supply results due to higher volumes sold and profitable one-off wholesale transactions. 6M 2026 6M 2025 Δ Δ, % Green Capacities 149.2 166.6 (17.4) (10.4%) Networks 147.3 132.6 14.7 11.1% Reserve Capacities 17.9 29.1 (11.2) (38.5%) Customers & Solutions 0.2 (27.7) 27.9 n/a Other activities and eliminations (8.0) 0.2 (8.2) n/a Adjusted EBITDA 306.6 300.8 5.8 1.9% Adjusted EBITDA by segment, EURm Adjusted EBITDA by segments, EURm Reserve Capacities Customers & Solutions Green Capacities Networks Other activities and eliminations 6M 2026 48.7% 48.0% 5.8% (2.6%) 6M 2025 55.4% 44.1% 0.1% 9.7%(9.2%) 0.1% 24 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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6M 2026 6M 2025 Δ Δ, % Green Capacities 105.8 142.2 (36.4) (25.6%) Networks 75.2 68.8 6.4 9.3% Reserve Capacities 11.7 23.4 (11.7) (50.0%) Customers & Solutions (4.3) (30.5) 26.2 85.9% Other activities and eliminations (12.8) (5.3) (7.5) (141.5%) Adjusted EBIT 175.6 198.6 (23.0) (11.6%) EBIT In 6M 2026, Adjusted EBIT amounted to EUR 175.6 million and was EUR 23.0 million (11.6%) lower than in 6M 2025. The main effect of the decrease was higher depreciation and amortisation expenses (EUR -27.2 million), which was partly offset by higher Adjusted EBITDA (EUR +5.8 million). Net profit Adjusted Net Profit amounted to EUR 115.8 million in 6M 2026 and was EUR 30.4 million (20.8%) lower than in 6M 2025. The decrease is mainly related to lower Adjusted EBIT (EUR -23.0 million) as well as lower financial activity result (EUR -10.9 million). In March 2026, the Group completed the sale of a 49.0% stake in its subsidiary, Vilnius CHP. The gain arising from the transaction is recognised in the parent company’s financial statements; however, it is eliminated upon consolidation and does not affect the consolidated net profit. More detailed information is provided in section ‘6 Consolidated financial statements’, note ‘18 Composition of the Group’. Adjusted EBIT by segment, EURm Net profit, EURm 6M 2026 6M 2025 Δ Δ, % Adjusted Net Profit 115.8 146.2 (30.4) (20.8%) Reported net profit 113.2 111.4 1.8 1.6% EPS, EUR 1.57 1.54 0.03 1.9% DPS1, EUR 0.704 0.683 0.021 3.1% 1 For 6M 2026 we intend to distribute a dividend of EUR 0.704 per share (+3.1% YoY), corresponding to EUR 51.0 million, which is subject to the decision of our General Meeting to be held on 9 September 2026. 25 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Investments In 6M 2026, Investments amounted to EUR 306.1 million and were EUR 37.1 million (10.8%) lower than in 6M 2025. Investments in the Green Capacities segment decreased by EUR 76.0 million, due to several projects reaching COD in 2025. The decrease was partly offset by a EUR 43.1 million increase in Investments in the Networks segment, reaching EUR 208.3 million. 92.8% (EUR 284.1 million) of the total Investments were made in Lithuania. Investments in the Networks segment comprised 68.0% of the total Investments in 6M 2026, amounting to EUR 208.3 million, and were 26.1% (EUR 43.1 million) higher than in 6M 2025. The increase was mainly driven by higher Investments in the electricity distribution network maintenance (EUR +19.1 million) and expansion of the electricity distribution network (EUR +13.9 million), mainly due to several large B2B customers connected to the grid. Investments in the Green Capacities segment comprised 26.3% of the total Investments and decreased by 48.6% (EUR 76.0 million) compared to 6M 2025, mostly due to the completion and commissioning of Kelmė WF , Stelpe SF I and II, Varme SF and Silesia WF II, which reached COD in 2025. The decrease was partly offset by Investments into ongoing expansion projects. Investments in the Customers & Solutions segment in 6M 2026 amounted to EUR 8.0 million and were 20.8% lower than in 6M 2025, mainly due to temporary delays in EV network expansion due to adverse weather conditions in winter. In addition, a more selective approach to network expansion and enhanced scrutiny of location selection contributed to a slower investment pace. In 6M 2026, grants and Investments covered by customers amounted to EUR 43.1 million and accounted for 14.1% of the total Investments. 6M 2026 6M 2025 Δ Δ, % Networks 208.3 165.2 43.1 26.1% Total electricity network investments: 186.5 153.5 33.0 21.5% Expansion of the electricity distribution network 142.2 128.3 13.9 10.8% Maintenance of the electricity distribution network 44.3 25.2 19.1 75.8% Total gas network investments: 5.2 5.4 (0.2) (3.7%) Maintenance of the gas distribution network 3.3 2.9 0.4 13.8% Expansion of gas distribution network 1.9 2.5 (0.6) (24.0%) Other 16.6 6.3 10.3 163.5% Green Capacities 80.4 156.4 (76.0) (48.6%) Hydro 24.3 40.4 (16.1) (39.9%) BESS 18.3 0.4 17.9 n/a Onshore Wind 17.1 41.4 (24.3) (58.7%) Solar 12.7 57.1 (44.4) (77.8%) Offshore wind 6.4 15.5 (9.1) (58.7%) Other 1.6 1.6 - -% Customers & Solutions 8.0 10.1 (2.1) (20.8%) EV charging network 5.8 9.5 (3.7) (38.9%) Other 2.2 0.6 1.6 266.7% Reserve Capacities 2.8 1.0 1.8 180.0% Other 6.6 10.5 (3.9) (37.1%) Investments 306.1 343.2 (37.1) (10.8%) Total grants and Investments covered by customers: (43.1) (31.9) (11.2) 35.1% Grants (0.3) (0.5) 0.2 (40.0%) Investments covered by customers1 (42.8) (31.4) (11.4) 36.3% Investments (excl. grants and investments covered by customers) 263.0 311.3 (48.3) (15.5%) Investments by segment, EURm Distribution of Investments, % 6M 2026 6M 2025 6M 2026, % 6M 2025, % Lithuania 284.1 267.6 92.8% 78.0% Other countries2 22.0 75.6 7.2% 22.0% Investments: 306.1 343.2 100.0% 100.0% Investments by countries, EURm 1 ‘Investments covered by customers’ include new connections and upgrades and infrastructure equipment transfers. 2 ‘Other countries’ represent investments in Latvia, Poland and Estonia. 6M 2026 2.6% 2.2% 0.9% 6M 2025 Reserve Capacities Customers & Solutions Networks Green Capacities Other activities and eliminations 26.3%68.0% 2.9% 3.1% 0.3% 45.6%48.1% 26 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Capital Employed Capital Employed As of 30 June 2026, Capital Employed amounted to EUR 4,561.4 million and increased by EUR 154.7 million compared to 31 December 2025, mainly due to the Investments made. Equity As of 30 June 2026, equity increased by EUR 141.4 million (5.7%) compared to 31 December 2025. The increase was driven by the asset rotation transaction, completed in March 2026 (EUR +110.6 million), and net profit earned in 6M 2026 (EUR +113.2 million), which was partly offset by the dividends paid (EUR -49.4 million). A more detailed description is provided in section ‘6 Consolidated financial statements’, note ‘14 Equity’ and note ‘18 Composition of the Group’. 30 Jun 2026 31 Dec 2025 Δ Δ, % Non-current assets 5,426.7 5,280.4 146.3 2.8% Net Working Capital 22.0 43.6 (21.6) (49.5%) Other assets 85.2 72.6 12.6 17.4% Grants and subsidies (264.1) (272.5) 8.4 (3.1%) Deferred income (370.9) (342.4) (28.5) 8.3% Deferred tax liabilities (93.8) (90.3) (3.5) 3.9% Non-current provisions (112.7) (160.3) 47.6 (29.7%) Other assets and liabilities (131.0) (124.4) (6.6) 5.3% Capital Employed 4,561.4 4,406.7 154.7 3.5% Equity 2,636.1 2,494.7 141.4 5.7% Net Debt 1,925.3 1,912.0 13.3 0.7% Adjusted ROCE LTM 6.7% 7.5% (0.8 pp) n/a Capital Employed, EURmNet Working Capital As of 30 June 2026, Net Working Capital amounted to EUR 22.0 million and decreased by EUR 21.6 million compared to 31 December 2025. The major drivers behind the decrease were lower trade and accrued receivables as a result of lower electricity- and gas-related revenue due to seasonality and lower inventories. The decrease was partly offset by lower trade payables for purchased electricity. 27 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Financing Net Debt As of 30 June 2026, Net Debt amounted to EUR 1,925.3 million and was 0.7% (EUR 13.3 million) higher compared to 31 December 2025 due to dividends, interest and income tax paid during the period. The increase was partly offset by the proceeds from the sale of a 49.0% stake in Vilnius CHP and lower working capital needs. The FFO LTM/Net Debt ratio increased by 1.2 pp. More information is provided in section ‘6 Consolidated financial statements’, note ‘15 Financing’. Interest rate As of 30 June 2026, financial liabilities amounting to EUR 1,607.4 million were subject to a fixed interest rate (73.1% of Gross Debt). Effective interest rate of Gross debt was 2.76% (2.51% on 31 December 2025). Currency rate As of 30 June 2026, 96.1% of the total debt was in EUR, and 3.9% in PLN. Maturities The average maturity of financial liabilities as of 30 June 2026 was 7.1 years (4.8 years as of 31 December 2025). Bond issues During the reporting period, there have been no material changes regarding the bonds. Related information, including the structure of the bondholders as of the issue date, is available in section ‘7.1 Further investor related information’ of our Integrated Annual Report 2025 and on our website. Net Debt, EURm 30 Jun 2026 31 Dec 2025 Δ Δ, % Gross Debt 2,200.1 2,208.3 (8.2) (0.4%) Cash and cash equiv. (274.8) (296.3) 21.5 (7.3%) Net Debt 1,925.3 1,912.0 13.3 0.7% Net Debt / Adjusted EBITDA LTM 3.49 3.50 (0.01) (0.3%) Net Debt / EBITDA LTM 3.68 3.97 (0.29) (7.3%) FFO LTM / Net Debt 22.2% 21.0% 1.2 pp n/a Outstanding as of 30 Jun 2026 Outstanding as of 31 Dec 2025 Δ Effective interest rate (%) 30 Jun 2026 Effective interest rate (%) 31 Dec 2025 Δ Average time to maturity (years) Fixed interest rate Euro currency Bonds (incl. interest) 908.0 904.3 3.6 1.96% 1.96% - 2.3 100.0% 100.0% Non-current loans including current portion of non-current loans 1,184.5 778.4 406.0 3.37% 2.93% 0.4 pp 10.4 59.1% 94.4% Bank overdrafts, credit lines and current loans 0.1 417.9 (417.9) 3.12% 2.89% 0.2 pp 1.3 0.0% 100.0% Lease liabilities 107.6 107.6 - - - - 6.6 0.0% 82.1% Gross Debt 2,200.1 2,208.3 (8.2) 2.76% 2.51% 0.3 pp 7.1 73.1% 96.1% Debt summary, EURm Repayment schedule of the Group’s financial liabilities1,2, EURm Loans and Leases Bonds Green bonds 1 The nominal value of issued bonds amounts to EUR 900 million. As of 30 June 2026, bonds accounted for EUR 896.1 million in the Consolidated statement of financial position as the remaining nominal capital will be capitalised until maturity according to IFRS. 2 Overdrafts are classified as current liabilities unless an additional agreement has been signed. Overdrafts with maturity dates in 2027 are therefore recognised as current liabilities, even though the graph represents them with a 2027 end date. 2026 20312029 93.5 20322027 168.8 42.1 300.0 2028 92.6 300.0 2030 102.0 121.9 130.1 300.0 2033 2034 75.4 155.5 2035+ 314.1 28 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Cash flows CFO Net cash flows from operating activities (CFO) in 6M 2026 amounted to EUR 308.8 million. CFO were EUR 158.1 million lower than in 6M 2025, mainly due to lower change in provisions compared to 6M 2025 and higher working capital change. CFI Net cash flows from investing activities (CFI) amounted to EUR -304.5 million in 6M 2026 and were EUR 38.9 million above the prior-year figure of EUR -343.4 million. The change was driven by lower payments for acquisition of property, plant and equipment and intangible assets (EUR -35.1 million). CFF Net cash flows from financing activities (CFF) amounted to EUR -25.8 million in 6M 2026 and were EUR 62.9 million above the prior-year figure of EUR -88.7 million. The change was mainly driven by the completion of the sale of a 49.0% stake in the Group’s subsidiary, Vilnius CHP (EUR 109.8 million). The increase was partly offset by higher dividends and interest paid (EUR -34.4 million). 6M 2026 6M 2025 Δ Δ, % Cash and cash equiv. at the beginning of the period 296.3 234.5 61.8 26.4% CFO 308.8 466.9 (158.1) (33.9%) CFI (304.5) (343.4) 38.9 11.3% CFF (25.8) (88.7) 62.9 70.9% Increase (decrease) in cash and cash equiv. (21.5) 34.8 (56.3) n/a Cash and cash equiv. at the end of the period 274.8 269.3 5.5 2.0% Cash flows, EURm 6M 2026 6M 2025 Δ Δ, % EBITDA 303.5 262.5 41.0 15.6% Interest paid (28.6) (23.1) (5.5) 23.8% Income tax paid (23.5) (13.5) (10.0) 74.1% FFO 251.4 225.9 25.5 11.3% Interests received 1.8 0.5 1.3 260.0% Investments (306.1) (343.2) 37.1 (10.8%) Grants received 0.3 0.5 (0.2) (40.0%) Cash effect of new connection points and upgrades 34.4 22.0 12.4 56.4% Proceeds from sale of PPE and intangible assets1 1.9 2.0 (0.1) (5.0%) Change in Net Working Capital 21.6 156.3 (134.7) (86.2%) FCF 5.3 64.0 (58.7) (91.7%) FFO and FCF, EURm More detailed information is provided in section ‘6.5 Interim condensed consolidated statement of cash flows’. FFO In 6M 2026, FFO amounted to EUR 251.4 million and increased by 11.3% (EUR 25.5 million) compared to 6M 2025, mainly due to higher EBITDA (EUR +41.0 million). FCF In 6M 2026, FCF amounted to EUR 5.3 million and were lower (EUR -58.7 million) compared to 6M 2025. The main reason for the decrease in FCF was the change in Net Working Capital (EUR -134.7 million), which was partly offset by lower Investments made (EUR -37.1 million) and increase in FFO (EUR +25.5 million). 1 Cash inflow indicated in the statement line ‘Proceeds from sale of PPE and intangible assets’ exclude the gain or loss which is already included in the FFO. 29 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Operating performance In 6M 2026, Installed Capacity remained flat at 3.2 GW. Electricity Generated (net) decreased by 0.52 TWh (23.2%) YoY and in 6M 2026 amounted to 1.73 TWh. The decrease in Electricity Generated (net) was driven by lower generation at Elektrėnai Complex (Reserve Capacities), as the volume of balancing capacity services provided in 6M 2026 was lower compared to 6M 2025. The electricity sales increased by 0.74 TWh (20.0%) compared to 6M 2025. The total distributed electricity volume increased by 0.51 TWh (10.0%) YoY and amounted to 5.63 TWh. The increase in both the electricity sales and the total electricity distributed was mainly impacted by the extremely cold weather conditions during January–February 2026. Electricity quality indicators slightly deteriorated YoY, mainly due to adverse weather conditions. Extreme temperatures increased the demand and pressure on the network, while heavy snowfall in Q1 and stronger winds in Q2 further affected the network’s performance. In 6M 2026, Heat Generated (net) amounted to 1.03 TWh and slightly increased – by 0.01 TWh (1.2%) – YoY due to higher generation at Kaunas CHP. 30 Jun 2026 31 Dec 2025 Δ Δ, % Installed Capacity Electricity GW 3.19 3.19 - -% Green Capacities GW 2.13 2.13 - -% Onshore wind GW 0.73 0.73 - -% Hydro GW 1.00 1.00 - -% Pumped-storage GW 0.90 0.90 - -% Run-of-river GW 0.10 0.10 - -% Solar GW 0.29 0.29 - -% Waste GW 0.04 0.04 - -% Biomass GW 0.07 0.07 - -% Reserve Capacities GW 1.06 1.06 - -% Natural gas GW 1.06 1.06 - -% Heat GW 0.35 0.35 - -% Green Capacities GW 0.35 0.35 - -% Waste GW 0.14 0.14 - -% Biomass GW 0.21 0.21 - -% 6M 2026 6M 2025 Δ Δ, % Electricity Electricity Generated (net) TWh 1.73 2.25 (0.52) (23.2%) Green Electricity Generated (net) TWh 1.44 1.44 0.01 0.4% Green Share of Generation % 83.5% 63.8% 19.7 pp n/a Electricity sales TWh 4.43 3.69 0.74 20.0% Electricity distributed TWh 5.63 5.12 0.51 10.0% SAIFI times 0.53 0.50 0.02 4.4% SAIDI min 46 37 9 25.1% Heat Heat Generated (net) TWh 1.03 1.01 0.01 1.2% Natural gas Natural gas sales TWh 6.28 4.42 1.86 42.2% Natural gas distributed TWh 4.69 3.65 1.04 28.4% Compared to 6M 2025, natural gas sales increased by 1.86 TWh (42.2%). The increase was primarily driven by the higher number of wholesale transactions. Natural gas distribution volume in Lithuania increased by 1.04 TWh (28.4%), mainly due to extremely cold weather conditions during January– February 2026. 20292025 2026 2027 2028 Hedge price2, EUR/MWh Volumes hedged3, 4, % 116 83 83 83 Generation portfolio hedging levels1 82 50% 86% 63% 62% 61% 1 Hedging levels are provided for the duration of the strategic period. 2 Most PPAs are concluded for the base load, therefore, the actual effective hedge price can differ from the price in the contract due to the profile effect. 3 Generation portfolio includes the total electricity generation of Secured Capacity projects, excluding Kruonis PSHP as well as units 7, 8 and CCGT at Elektrėnai Complex. 4 Some of the PPAs are internal, the graph above illustrates the Green Capacities segment’s outlook (generated volume). Key operating indicators 30 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Installed Capacity and generation mix overview Reserve Capacities Natural gas Electricity Heat Green Capacities Hydro Wind Biomass Waste to energy Installed Capacity, MW 6M 2026 6M 2026 6M 2025 6M 2025 Green Share – 100% 140210 350 MW Green Share – 100% 140210 350 MW1,055 1,055 3,190 MW 2,810 MW Installed Capacity, MW 6M 2026 6M 2026 6M 2025 6M 2025 Generation (net), TWh Generation (net), TWh Green Share – 100% 1.01 TWh59% 41% Green Share – 100% 1.03 TWh56% 44% 2.25 TWh17% 31% 36% 1.73 TWh Green Capacities – 2,135 MW (67%) Green Capacities – 1,755 MW (62%) 1,001 1,001 734 597 71 71 285 42 Green Share – 83% Green Share – 64% 23% 36% 8%7% Solar 17% 7% 8%1% 44 44 9% 31 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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w 6M 2026 6M 2025 6M 2026 Δ 6M 2025 6M 2026 Δ 6M 2025, % Total revenue EURm 1,497.5 1,298.0 199.5 15.4% Adjusted EBITDA EURm 306.6 300.8 5.8 1.9% Green Capacities EURm 149.2 166.6 (17.4) (10.4%) Networks EURm 147.3 132.6 14.7 11.1% Reserve Capacities EURm 17.9 29.1 (11.2) (38.5%) Customers & Solutions EURm 0.2 (27.7) 27.9 n/a Other activities and eliminations EURm (8.0) 0.2 (8.2) n/a Adjusted EBITDA margin % 20.4% 22.5% (2.1 pp) n/a EBITDA EURm 303.5 262.5 41.0 15.6% Adjusted EBIT EURm 175.6 198.6 (23.0) (11.6%) Operating profit (EBIT) EURm 172.5 160.3 12.2 7.6% Adjusted Net profit EURm 115.8 146.2 (30.4) (20.8%) Net profit EURm 113.2 111.4 1.8 1.6% Investments EURm 306.1 343.2 (37.1) (10.8%) Networks EURm 208.3 165.2 43.1 26.1% Green Capacities EURm 80.4 156.4 (76.0) (48.6%) Customers & Solutions EURm 8.0 10.1 (2.1) (20.8%) Reserve Capacities EURm 2.8 1.0 1.8 180.0% Other activities and eliminations EURm 6.6 10.5 (3.9) (37.1%) FFO EURm 251.4 225.9 25.5 11.3% FCF EURm 5.3 64.0 (58.7) (91.7%) Adjusted ROE LTM % 7.6% 10.7% (3.1 pp) n/a ROE LTM % 6.5% 9.0% (2.5 pp) n/a Adjusted ROCE LTM % 6.7% 8.6% (1.9 pp) n/a ROCE LTM % 6.1% 7.7% (1.6 pp) n/a ROA LTM % 2.7% 3.9% (1.2 pp) n/a EPS EUR 1.57 1.54 0.03 1.9% DPS1 EUR 0.704 0.683 0.021 3.1% Key financial indicators 1 For 6M 2026 we intend to distribute a dividend of EUR 0.704 per share (+3.1% YoY), corresponding to EUR 51.0 million, which is subject to the decision of our General Meeting to be held on 9 September 2026. 32 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Key financial indicators (cont.) 30 Jun 2026 31 Dec 2025 30 Jun 2026 Δ 31 Dec 2025 30 Jun 2026 Δ 31 Dec 2025, % Total assets EURm 6,339.2 6,278.9 60.3 1.0% Equity EURm 2,636.1 2,494.7 141.4 5.7% Net Debt EURm 1,925.3 1,912.0 13.3 0.7% Net Working Capital EURm 22.0 43.6 (21.6) (49.5%) Net Working Capital/Revenue LTM % 0.8% 1.7% (0.9 pp) n/a Capital Employed EURm 4,561.4 4,406.7 154.7 3.5% Equity Ratio times 0.42 0.40 0.02 5.0% Net Debt/Adjusted EBITDA LTM times 3.49 3.50 (0.01) (0.3%) Net Debt/EBITDA LTM times 3.68 3.97 (0.29) (7.3%) Gross Debt/Equity times 0.83 0.89 (0.06) (6.7%) FFO LTM/Net Debt % 22.2% 21.0% 1.2 pp n/a Current Ratio times 1.21 1.09 0.12 11.0% Asset Turnover LTM times 0.44 0.42 0.02 4.8% 33 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Investments Investments in Q2 2026 were lower compared to Q2 2025 as several Green Capacities projects were completed successfully in 2025. During the last twelve months, Kelmė WF , Silesia WF II, Stelpe SF I and II as well as Varme SF reached the COD. Financial results Revenue In Q2 2026, total revenue increased by EUR 33.3 million compared to Q2 2025. The revenue increase in the Customers & Solutions and Networks segments was partly offset by lower revenue in the Reserve Capacities and Green Capacities segments. Adjusted EBITDA In Q2 2026, Adjusted EBITDA amounted to EUR 114.4 million and increased by EUR 2.1 million (1.9%) compared to Q2 2025. Higher results of the Networks and Green Capacities segments were partially outweighed by the lower result of the Reserve Capacities segment. Adjusted Net Profit In Q2 2026, Adjusted Net Profit decreased by EUR 9.3 million (24.2%) compared to Q2 2025. The decrease is mostly related to higher depreciation and amortisation expenses (EUR -13.2 million). 3.2 Results Q2 Q2 2026 Q2 2025 Δ Δ, % Total revenue EURm 558.5 525.2 33.3 6.3% Adjusted EBITDA EURm 114.4 112.3 2.1 1.9% Adjusted EBITDA Margin % 21.0% 21.0% - n/a EBITDA EURm 128.1 102.4 25.7 25.1% Adjusted EBIT EURm 49.3 60.2 (10.9) (18.1%) Operating profit (EBIT) EURm 63.0 50.3 12.7 25.2% Adjusted Net Profit EURm 29.1 38.4 (9.3) (24.2%) Net Profit EURm 40.4 27.5 12.9 46.9% Investments EURm 149.2 196.7 (47.5) (24.1%) FFO EURm 96.6 76.7 19.9 25.9% FCF EURm 79.6 47.3 32.3 68.3% Key financial indicators, EURm 34 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Operating performance As of 30 June 2026, Installed Capacity remained flat at 3.2 GW compared to 31 March 2026. Electricity Generated (net) decreased by 0.34 TWh (32.1%) YoY and in Q2 2026 amounted to 0.71 TWh. The decrease in Electricity Generated (net) was driven by lower generation at Elektrėnai Complex (Reserve Capacities), as the volume of balancing capacity services provided in Q2 2026 was lower compared to Q2 2025. Electricity SAIFI indicator, which reflects the average number of unplanned long interruptions per customer, remained at the last year level and amounted to 0.31. Electricity SAIDI indicator, which reflects the average duration of unplanned interruptions, increased to 29 minutes in Q2 2026 (compared to 22 minutes in Q2 2025). Electricity quality indicators slightly deteriorated, mainly due to adverse weather conditions. In Q2 2026, extremely high temperatures increased the demand and pressure on the network, while stronger winds further affected the network’s performance. In Q2 2026, Heat Generated (net) amounted to 0.46 TWh and increased by 0.06 TWh (15.8%) due to higher generation from both waste and biomass. Natural gas sales decreased by 0.02 TWh (1.2%), driven by lower B2B retail sales. In Lithuania, the distributed natural gas volume increased by 0.06 TWh (4.8%), amounting to 1.23 TWh. 30 June 2026 31 Mar 2026 Δ Δ, % Installed Capacity Electricity GW 3.19 3.19 - -% Green Capacities GW 2.13 2.13 - -% Onshore wind GW 0.73 0.73 - -% Hydro GW 1.00 1.00 - -% Pumped-storage GW 0.90 0.90 - -% Run-of-river GW 0.10 0.10 - -% Solar GW 0.29 0.29 - -% Waste GW 0.04 0.04 - -% Biomass GW 0.07 0.07 - -% Reserve Capacities GW 1.06 1.06 - -% Natural gas GW 1.06 1.06 - -% Heat GW 0.35 0.35 - -% Green Capacities GW 0.35 0.35 - -% Waste GW 0.14 0.14 - -% Biomass GW 0.21 0.21 - -% Q2 2026 Q2 2025 Δ Δ, % Electricity Electricity Generated (net) TWh 0.71 1.05 (0.34) (32.1%) Green Electricity Generated (net) TWh 0.68 0.71 (0.02) (3.3%) Green Share of Generation % 96.0% 67.4% 28.5 pp n/a Electricity sales TWh 1.97 1.70 0.27 15.9% Electricity distributed TWh 2.39 2.31 0.08 3.4% SAIFI times 0.31 0.31 0.00 0.4% SAIDI min 29 22 7 33.9% Heat Heat Generated (net) TWh 0.46 0.40 0.06 15.8% Natural gas Natural gas sales TWh 1.46 1.48 (0.02) (1.2%) Natural gas distributed TWh 1.23 1.17 0.06 4.8% Key operating indicators 35 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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3.3 Quarterly summary Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Total revenue EURm 558.5 939.0 699.0 500.7 525.2 772.8 685.9 528.8 438.8 653.5 707.5 471.2 Adjusted EBITDA EURm 114.4 192.2 141.0 104.3 112.3 188.5 130.9 107.2 108.0 181.7 139.4 91.8 Green Capacities EURm 62.9 86.3 76.1 48.8 57.3 109.3 81.5 46.4 57.4 77.1 68.2 45.3 Networks EURm 66.6 80.7 70.6 60.2 58.5 74.1 54.3 49.9 50.2 65.5 51.3 40.0 Reserve Capacities EURm 2.7 15.2 3.0 5.6 11.7 17.4 5.3 11.5 5.2 20.0 11.6 6.1 Customers & Solutions EURm (12.9) 13.1 (5.5) (15.3) (13.5) (14.2) (4.0) (0.7) (5.6) 17.4 9.5 (0.8) Other activities and eliminations EURm (4.9) (3.1) (3.2) 5.0 (1.7) 1.9 (6.2) 0.1 0.8 1.7 (1.2) 1.2 Adjusted EBITDA Margin % 21.0% 20.1% 19.8% 20.3% 21.0% 23.5% 19.2% 20.1% 24.5% 28.0% 20.3% 20.2% EBITDA EURm 128.1 175.4 127.6 92.0 102.4 160.1 134.9 103.6 105.3 188.9 159.2 108.3 Adjusted EBIT EURm 49.3 126.3 70.3 46.5 60.2 138.4 81.2 60.6 63.2 140.3 98.5 52.7 Operating profit (EBIT) EURm 63.0 109.5 56.9 34.2 50.3 110.0 85.2 56.9 60.4 147.5 118.3 69.1 Adjusted Net Profit EURm 29.1 86.7 48.1 31.4 38.4 107.8 64.1 48.7 52.0 112.6 93.5 42.9 Net Profit EURm 40.4 72.8 31.5 21.0 27.5 83.9 62.2 45.6 49.7 118.7 107.6 56.8 Investments EURm 149.2 156.9 190.4 186.7 196.7 146.5 228.3 161.4 212.8 209.5 303.4 231.1 Networks EURm 97.5 110.8 110.9 106.4 99.7 65.5 119.9 81.3 72.1 63.7 100.2 84.7 Green Capacities EURm 41.3 39.1 66.7 62.8 85.0 71.4 99.3 65.6 130.7 138.9 180.8 127.9 Customers & Solutions EURm 6.0 2.0 10.6 8.7 4.9 5.2 8.1 9.3 5.2 2.6 19.6 3.3 Reserve Capacities EURm 1.1 1.7 3.2 6.5 0.5 0.5 0.3 1.8 0.3 0.2 2.6 1.0 Other activities and eliminations EURm 3.3 3.3 (1.0) 2.3 6.6 3.9 0.7 3.4 4.5 4.1 0.2 14.2 FFO EURm 96.6 154.8 110.1 64.8 76.7 149.2 125.7 127.6 55.9 169.5 142.9 82.8 FCF EURm 79.6 (74.3) (69.4) (186.6) 47.3 16.7 (69.4) (19.5) (110.0) 5.0 (97.1) (165.5) Adjusted ROE LTM % 7.6% 8.0% 9.2% 10.0% 10.7% 11.3% 11.8% 13.7% 13.5% 14.2% 13.1% 11.4% ROE LTM % 6.5% 6.0% 6.6% 8.1% 9.0% 10.0% 11.8% 14.4% 15.0% 14.2% 14.6% 14.8% Adjusted ROCE LTM % 6.7% 7.1% 7.5% 8.1% 8.6% 8.9% 9.0% 10.3% 10.4% 11.1% 9.8% 8.6% ROCE LTM % 6.1% 5.8% 5.9% 6.9% 7.7% 8.1% 9.2% 10.9% 11.6% 10.7% 10.5% 11.4% Key financial indicators 30 Jun 2026 31 Mar 2026 31 Dec 2025 30 Sep 2025 30 Jun 2025 31 Mar 2025 31 Dec 2024 30 Sep 2024 30 Jun 2024 31 Mar 2024 31 Dec 2023 30 Sep 2023 Total assets EURm 6,339.2 6,488.4 6,278.9 6,074.7 5,897.3 5,910.5 5,706.0 5,459.1 5,366.0 5,327.5 5,244.4 5,067.9 Equity EURm 2,636.1 2,631.0 2,494.7 2,461.4 2,492.0 2,484.5 2,436.8 2,372.1 2,369.5 2,321.4 2,263.4 2,100.9 Net Debt EURm 1,925.3 1,893.1 1,912.0 1,782.7 1,609.9 1,593.3 1,612.3 1,448.8 1,411.0 1,287.8 1,317.5 1,114.1 Net Working Capital EURm 22.0 134.7 43.6 31.8 (53.7) 97.5 102.6 116.2 113.7 144.4 175.2 216.8 Capital Employed EURm 4,561.4 4,524.1 4,406.7 4,244.1 4,101.9 4,077.8 4,049.1 3,820.9 3,780.5 3,609.2 3,580.9 3,214.8 Net Debt/Adjusted EBITDA LTM times 3.49 3.44 3.50 3.33 2.99 2.98 3.05 2.70 2.71 2.49 2.72 2.44 Net Debt/EBITDA LTM times 3.68 3.81 3.97 3.64 3.21 3.16 3.03 2.60 2.51 2.57 2.60 2.01 FFO LTM/Net Debt % 22.2% 21.5% 21.0% 23.4% 29.8% 28.8% 29.7% 34.2% 32.0% 28.9% 29.4% 39.6% 36 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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30 Jun 2026 31 Mar 2026 31 Dec 2025 30 Sep 2025 30 Jun 2025 31 Mar 2025 31 Dec 2024 30 Sep 2024 30 Jun 2024 31 Mar 2024 31 Dec 2023 30 Sep 2023 Installed Capacity Electricity GW 3.19 3.19 3.19 3.19 2.81 2.48 2.48 2.48 2.45 2.43 2.38 2.33 Green Capacities GW 2.13 2.13 2.13 2.13 1.75 1.42 1.42 1.42 1.40 1.38 1.33 1.28 Onshore wind GW 0.73 0.73 0.73 0.73 0.60 0.28 0.28 0.28 0.28 0.28 0.23 0.23 Hydro GW 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Pumped-storage GW 0.90 0.90 0.90 0.90 0.90 0.90 0.90 0.90 0.90 0.90 0.90 0.90 Run-of-river GW 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 Solar GW 0.29 0.29 0.29 0.29 0.04 0.02 0.02 0.02 - - - - Waste GW 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 Biomass GW 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.05 0.05 - Reserve Capacities GW 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 Natural gas GW 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 1.06 Heat GW 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.33 0.33 0.18 Green Capacities GW 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.33 0.33 0.18 Waste GW 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 Biomass GW 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.19 0.19 0.04 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Electricity Electricity Generated (net) TWh 0.71 1.02 0.93 0.79 1.05 1.21 0.93 0.58 0.55 0.77 0.67 0.44 Green Electricity Generated (net) TWh 0.68 0.76 0.78 0.57 0.71 0.73 0.72 0.47 0.50 0.61 0.51 0.36 Green Share of Generation % 96.0% 74.8% 83.8% 72.4% 67.4% 60.7% 77.1% 80.8% 91.7% 79.9% 76.6% 81.1% Electricity sales TWh 1.97 2.46 2.19 1.85 1.70 2.00 1.93 1.63 1.54 1.84 1.88 1.56 Electricity distributed TWh 2.39 3.24 2.88 2.34 2.31 2.81 2.73 2.30 2.27 2.78 2.70 2.22 SAIFI times 0.31 0.21 0.26 0.31 0.31 0.19 0.28 0.56 0.36 0.21 0.40 0.37 SAIDI min 29 17 17 20 22 15 43 307 36 14 46 42 Heat Heat Generated (net) TWh 0.46 0.57 0.56 0.29 0.40 0.62 0.60 0.24 0.37 0.46 0.40 0.20 Natural gas Natural gas sales TWh 1.46 4.82 2.59 1.23 1.48 2.94 2.77 1.83 1.27 2.84 2.65 1.34 Natural gas distributed TWh 1.23 3.46 2.33 0.94 1.17 2.48 2.22 0.89 1.11 2.68 2.26 0.78 Key operating indicators 37 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Overview Indicators provided in this page (except Revenue) are considered as Alternative Performance Measures . Adjusted EBITDA, EURmAdjusted EBITDA, EURm Adjusted EBITDA, EURm Adjusted EBITDA, EURm 147.3166.6 17.9 0.2 (27.7) 132.6149.2 29.1 Revenue, EURm 411.9 Adjusted EBIT, EURm 75.2 Investments, EURm 208.3 48% of the Group‘s Adjusted EBITDA 49% of the Group‘s Adjusted EBITDA 6% of the Group‘s Adjusted EBITDA Networks Revenue, EURm 263.2 Adjusted EBIT, EURm 105.8 Investments, EURm 80.4 Green Capacities Revenue, EURm 101.9 Adjusted EBIT, EURm 11.7 Investments, EURm 2.8 Reserve Capacities Customers & Solutions Lithuania Lithuania Poland Poland Lithuania Lithuania Estonia Estonia Finland Latvia 6M 20256M 2025 6M 20256M 20266M 2026 6M 2026 Latvia 6M 2025 6M 2026 3.4 Results by business segment Revenue, EURm 818.2 Adjusted EBIT, EURm (4.3) Investments, EURm 8.0 0% of the Group‘s Adjusted EBITDA 38 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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a new one and completed the procurement process. According to the signed contract, the new transformer should be operational in 2027. Meanwhile, to ensure the continued operation of the other three units, the transformer¹ from Unit 4 was transferred to Unit 2 while Unit 4 was undergoing a scheduled major overhaul. The financial impact of these events to the Group is insignificant because, under normal market conditions, all four units operate simultaneously for less than 1 % of the time. After the reporting period: – We made a Final Investment Decision regarding a 107 MW / 215 MWh Tume BESS in Latvia. Green Capacities Q2 2026 highlights – The first BESS components have been delivered to the sites of Kelmė BESS (147 MW / 295 MWh), Mažeikiai BESS (45 MW / 90 MWh) and Kruonis BESS (99 MW / 199 MWh), marking a key milestone in the development of some of the largest energy storage projects in Lithuania. The projects are expected to reach COD in 2027. – We received positive Environmental Impact Assessment for the Curonian Nord offshore wind project. – Following the National Audit Office’s review of the Curonian Nord project in November 2025, three recommendations were provided to the Group. Two recommendations have already been fully implemented. With regard to the third recommendation, an analysis of internal and external factors affecting the implementation of the Curonian Nord offshore wind farm project was completed and submitted to the relevant stakeholders. All measures aimed at implementing the recommendations were completed within the set deadlines. – As reported previously, a transformer failure occurred at Unit 2 of Kruonis PSHP in December 2025, resulting in the plant’s total capacity being reduced from 900 MW to 675 MW. After conducting a thorough diagnostic assessment and evaluating possible scenarios for restoring the unit, as well as taking into account the unit’s 34-year service life, the Group decided to replace the transformer with 6M 2026 6M 2025 Δ Δ, % Q2 2026 Q2 2025 Δ Δ, % Total revenue 263.2 271.9 (8.7) (3.2%) 112.6 115.3 (2.7) (2.3%) Adjusted EBITDA 149.2 166.6 (17.4) (10.4%) 62.9 57.3 5.6 9.8% EBITDA 149.2 166.6 (17.4) (10.4%) 62.9 57.3 5.6 9.8% Adjusted EBIT 105.8 142.2 (36.4) (25.6%) 42.0 44.5 (2.5) (5.6%) Operating profit (EBIT) 105.8 142.2 (36.4) (25.6%) 42.0 44.5 (2.5) (5.6%) Investments 80.4 156.4 (76.0) (48.6%) 41.3 85.0 (43.7) (51.4%) Adjusted EBITDA Margin 56.7% 61.3% (4.6 pp) n/a 55.8% 49.7% 6.1 pp n/a 30 Jun 2026 31 Dec 2025 Δ Δ,% 30 Jun 2026 31 Mar 2026 Δ Δ, % PPE, intangible and right-of-use assets 2,271.4 2,247.7 23.7 1.1% 2,271.4 2,258.0 13.4 0.6% Key financial indicators, EURm 1 The assignment of transformers to individual units may change depending on the major overhaul schedule and operational needs in order to ensure the highest possible availability of the units. Financial results Q2 results The Green Capacities segment’s revenue decreased by 2.3% (EUR 2.7 million) compared to Q2 2025. Revenue decreased primarily due to lower electricity volumes generated. The Green Capacities segment’s Adjusted EBITDA was 9.8% (EUR 5.6 million) higher than in Q2 2025. The increase was mainly related to lower operating expenses for new development projects. Compared to Q2 2025, Investments in Q2 2026 decreased by 51.4% (EUR 43.7 million), mostly due to the completion and commissioning of Kelmė WF , Stelpe SF I and II, Varme SF and Silesia WF II, which reached COD in 2025. The decrease was partly offset by Investments into ongoing expansion projects. 39 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Operating performance Q2 results As of 30 June 2026, Installed Green Capacities remained flat at 2.1 GW. Electricity Generated (net) slightly decreased – by 0.02 TWh (3.3%) – compared to last year due to lower onshore wind generation, mainly impacted by lower wind speed. In Q2 2026, Heat Generated (net) amounted to 0.46 TWh and increased by 0.06 TWh (15.8%) due to higher generation from both waste and biomass. 1 Vilnius CHP and Kaunas CHP can use natural gas for starting/stopping the plant, running tests, etc., which are included in the reported values of ‘Waste’. Key operating indicators 30 Jun 2026 31 Dec 2025 Δ Δ, % 30 Jun 2026 31 Mar 2026 Δ Δ, % Installed Capacity Electricity GW 2.13 2.13 - -% 2.13 2.13 - -% Onshore wind GW 0.73 0.73 - -% 0.73 0.73 - -% Hydro GW 1.00 1.00 - -% 1.00 1.00 - -% Pumped-storage GW 0.90 0.90 - -% 0.90 0.90 - -% Run-of-river GW 0.10 0.10 - -% 0.10 0.10 - -% Solar GW 0.29 0.29 - -% 0.29 0.29 - -% Waste GW 0.04 0.04 - -% 0.04 0.04 - -% Biomass GW 0.07 0.07 - -% 0.07 0.07 - -% Heat GW 0.35 0.35 - -% 0.35 0.35 - -% Waste GW 0.14 0.14 - -% 0.14 0.14 - -% Biomass GW 0.21 0.21 - -% 0.21 0.21 - -% 6M 2026 6M 2025 Δ Δ ,% Q2 2026 Q2 2025 Δ Δ, % Electricity Electricity Generated (net) TWh 1.44 1.44 0.01 0.4% 0.68 0.71 (0.02) (3.3%) Onshore wind TWh 0.62 0.70 (0.08) (11.5%) 0.25 0.34 (0.10) (27.7%) Solar TWh 0.12 0.03 0.09 296.9% 0.09 0.02 0.06 260.2% Hydro TWh 0.41 0.38 0.02 5.7% 0.21 0.20 0.01 5.5% Pumped-storage TWh 0.26 0.25 0.01 3.8% 0.14 0.14 0.00 3.1% Run-of-river TWh 0.15 0.13 0.01 9.3% 0.07 0.06 0.01 11.0% Waste TWh 0.14 0.15 0.00 (1.8%) 0.07 0.07 0.00 3.4% Biomass TWh 0.16 0.18 (0.02) (12.1%) 0.07 0.07 (0.01) (8.0%) Onshore wind farms availability factor % 95.7% 94.3% 1.4 pp n/a 94.1% 92.2% 1.9 pp n/a Onshore wind farms load factor % 19.4% 28.3% (8.9 pp) n/a 8.1% 17.8% (9.7 pp) n/a Wind speed m/s 6.2 6.8 (0.6) (8.5%) 6.0 6.6 (0.6) (8.9%) Heat Heat Generated (net) TWh 1.03 1.01 0.01 1.2% 0.46 0.40 0.06 15.8% Waste1 TWh 0.45 0.42 0.03 8.0% 0.20 0.18 0.03 15.6% Biomass TWh 0.57 0.59 (0.02) (3.7%) 0.26 0.22 0.04 16.0% 40 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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6M 2026 6M 2025 Δ Δ, % Q2 2026 Q2 2025 Δ Δ, % Total revenue 411.9 353.4 58.5 16.6% 170.7 158.3 12.4 7.8% Adjusted EBITDA 147.3 132.6 14.7 11.1% 66.6 58.5 8.1 13.8% EBITDA 122.3 99.0 23.3 23.5% 62.6 48.0 14.6 30.4% Adjusted EBIT 75.2 68.8 6.4 9.3% 30.1 26.1 4.0 15.3% Operating profit (EBIT) 50.3 35.1 15.2 43.3% 26.2 15.5 10.7 69.0% Investments 208.3 165.2 43.1 26.1% 97.5 99.7 (2.2) (2.2%) Adjusted EBITDA Margin, % 33.7% 34.3% (0.6 pp) n/a 38.1% 34.6% 3.5 pp n/a Regulated activity share in Adjusted EBITDA 100.0% 100.0% - n/a 100.0% 100.0% - n/a 30 Jun 2026 31 Dec 2025 Δ Δ, % 30 Jun 2026 31 Mar 2026 Δ Δ, % PPE, intangible and right-of-use assets 2,645.8 2,522.3 123.5 4.9% 2,645.8 2,589.7 56.1 2.2% Key financial indicators, EURmNetworks Q2 2026 highlights After the reporting period: – We signed a memorandum of understanding with Latvia’s electricity distribution system operator, Sadales Tīkls, to strengthen cross-border cooperation and mutual support in responding to large-scale power outages caused by extreme weather and other disruptions as well as enhance the resilience and reliability of the Baltic electricity distribution networks. Financial results Q2 results The Networks segment’s revenue increased by 7.8% (EUR 12.4 million) compared to Q2 2025. The increase is mostly related to electricity distribution activities driven by both higher distributed electricity volumes (+3.4%) and higher distribution price (+17.9%). The Networks segment’s Adjusted EBITDA was EUR 8.1 million higher than in Q2 2025, mainly due to higher RAB (EUR +3.4 million). Investments decreased slightly – by EUR 2.2 million (2.2%) – to EUR 97.5 million. The decrease was driven by lower Investments in the expansion of the electricity distribution network (EUR -12.0 million) and was partly offset by higher Investments in the maintenance of the electricity distribution network (EUR +5.3 million), as projects and works carried over from previous periods were executed during the quarter. 2026 2025 Δ Δ, % Total RAB opening balance EURm 1,906 1,795 111.0 7.0% WACC (weighted average) % 5.74 5.79 (0.05 pp) n/a D&A (regulatory) EURm 109.5 99.5 10.0 12.6% Additional tariff component EURm 51.8 37.5 14.3 35.8% Deferred part of investments covered by clients and electricity equipment transfer2 EURm 13.8 11.4 2.4 10.8% Electricity distribution RAB opening balance EURm 1,655 1,541 114.0 8.6% WACC % 5.77 5.82 (0.05 pp) n/a D&A (regulatory) EURm 97.8 88.6 9.2 13.6% Additional tariff component EURm 51.8 37.5 14.3 35.8% Deferred part of investments covered by clients and electricity equipment transfer2 EURm 13.0 10.6 (10.0) (48.5%) Natural gas distribution RAB opening balance EURm 251 254 (3.0) (1.2%) WACC % 5.56 5.64 (0.08 pp) n/a D&A (regulatory) EURm 11.7 11.0 0.7 6.0% Deferred part of investments covered by clients and electricity equipment transfer2 EURm 0.8 0.8 - -% Key regulatory indicators1 1 Numbers approved and published by the regulator (NERC) unless stated otherwise. 2 Actual numbers from the Networks segment’s Statement of profit or loss for the reporting period. 41 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Operating performance Q2 results In Q2 2026, electricity distributed increased by 0.08 TWh (3.4%) compared to Q2 2025 and amounted to 2.39 TWh. The increase was driven by higher consumption among both B2C and B2B customers. Electricity SAIFI indicator, which reflects the average number of unplanned long interruptions per customer, remained at the last year’s level and amounted to 0.31. Electricity SAIDI indicator, which reflects the average duration of unplanned interruptions, increased to 29 minutes in Q2 2026 (compared to 22 minutes in Q2 2025). Electricity quality indicators slightly deteriorated, mainly due to adverse weather conditions. In Q2 2026, extremely high temperatures increased the demand and pressure on the network, while stronger winds further affected the network’s performance. In Lithuania, the distributed natural gas volume increased by 0.06 TWh (4.8%) compared to Q2 2025, amounting to 1.23 TWh. The increase was driven by higher consumption among B2B customers due to colder weather conditions in early Q2 2026 compared to Q2 2025. Key operating indicators 6M 2026 6M 2025 Δ Δ, % Q2 2026 Q2 2025 Δ Δ, % Electricity Electricity distributed TWh 5.63 5.12 0.51 10.0% 2.39 2.31 0.08 3.4% of which B2C TWh 1.96 1.70 0.27 15.6% 0.76 0.74 0.02 2.6% of which B2B TWh 3.67 3.42 0.24 7.2% 1.63 1.57 0.06 3.8% Technological losses % 5.0% 4.8% 0.2 pp n/a 4.6% 4.6% 0.0 pp n/a New connection points thousand 21.3 27.5 (6.1) (22.4%) 14.5 17.4 (2.9) (16.7%) Connection point upgrades thousand 9.0 11.8 (2.8) (23.7%) 5.0 7.3 (2.2) (30.6%) Admissible power of new connection points and upgrades MW 213 254 (41) (16.1%) 139 126 13 10.2% Time to connect (average) c. d. 55 58 (2) (4.1%) 58 63 (5) (8.7%) SAIFI times 0.53 0.50 0.02 4.4% 0.31 0.31 0.00 0.4% SAIDI min. 46 37 9 25.1% 29 22 7 33.9% Supply of Last Resort TWh 0.34 0.15 0.19 126.8% 0.16 0.06 0.10 158.6% Natural gas Natural gas distributed TWh 4.69 3.65 1.04 28.4% 1.23 1.17 0.06 4.8% of which B2C TWh 1.65 1.37 0.28 20.5% 0.35 0.34 0.01 2.0% of which B2B TWh 3.04 2.28 0.76 33.2% 0.88 0.83 0.05 6.0% New connection points and upgrades thousand 0.8 0.8 0.0 (0.4%) 0.6 0.4 0.2 52.5% Technological losses % 1.4% 1.2% 0.2 pp n/a 1.4% 1.5% 0.0 pp n/a Time to connect (average) c. d. 123 103 20 19.4% 129 113 15 13.6% SAIFI times 0.001 0.002 (0.001) (55.9%) 0.001 0.001 0.000 (19.7%) SAIDI min 0.13 0.22 (0.09) (40.7%) 0.12 0.12 0.00 0.6% Customer experience NPS (transactional) score 67.8 62.5 5.3 8.5% 66.3 62.9 3.4 5.4% 30 Jun 2026 31 Dec 2025 Δ Δ, % 30 Jun 2026 31 Mar 2026 Δ Δ, % Electricity Distribution network thousand km 133 133 0 0.3% 133 133 0 0.2% Number of customers thousand 1,922 1,894 29 1.5% 1,922 1,921 1 0.1% of which prosumers and producers thousand 159 124 35 28.1% 159 132 27 20.6% admissible power of producers and prosumers MW 2,405 2,113 293 13.8% 2,405 2,251 154 6.9% Number of smart meters installed thousand 1,429 1,302 127 9.7% 1,429 1,362 67 4.9% Natural gas Distribution network thousand km 9.75 9.74 0.01 0.1% 9.75 9.74 0.01 0.1% Number of customers thousand 626 626 (1) (0.1%) 626 626 0 (0.1%) 42 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Reserve Capacities Financial results Q2 results The Reserve Capacities segment’s revenue was 48.1% (EUR 32.1 million) lower than in Q2 2025. The decrease was driven by the lower result of our balancing capacity services and lower electricity volumes sold. The Reserve Capacities segment’s Adjusted EBITDA was 76.9% (EUR 9.0 million) lower than in Q2 2025. The decrease was driven by the lower result of our balancing capacity services. Key financial indicators, EURm Key regulatory indicators1 2026 2025 Δ Δ, % Total D&A (regulatory) EURm 12.4 11.3 1.1 9.7% CCGT D&A (regulatory) EURm 7.8 7.5 0.3 4.0% Units 7 and 8 D&A (regulatory) EURm 4.6 3.8 0.8 21.1% 1 Numbers approved and published by the regulator (NERC) unless stated otherwise. 6M 2026 6M 2025 Δ Δ, % Q2 2026 Q2 2025 Δ Δ, % Total revenue 101.9 150.8 (48.9) (32.4%) 34.6 66.7 (32.1) (48.1%) Adjusted EBITDA 17.9 29.1 (11.2) (38.5%) 2.7 11.7 (9.0) (76.9%) EBITDA 33.8 29.1 4.7 16.2% 18.6 11.7 6.9 59.0% Adjusted EBIT 11.7 23.4 (11.7) (50.0%) (0.5) 8.9 (9.4) n/a Operating profit (EBIT) 27.6 23.4 4.2 17.9% 15.4 8.9 6.5 73.0% Investments 2.8 1.0 1.8 180.0% 1.1 0.5 0.6 120.0% Adjusted EBITDA Margin 20.8% 19.3% 1.5 pp n/a 14.5% 17.5% (3.0 pp) n/a Regulated activity share in Adjusted EBITDA 10.4% 17.0% (6.6 pp) n/a 29.2% 18.8% 10.3 pp n/a 30 Jun 2026 31 Dec 2025 Δ Δ, % 30 Jun 2026 31 Mar 2026 Δ Δ, % PPE, intangible and right-of-use assets 252.5 259.1 (6.6) (2.5%) 252.5 260.2 (7.7) (3.0%) 43 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Operating performance Q2 results In Q2 2026, Electricity Generated (net) by CCGT as well as units 7 and 8 at Elektrėnai Complex amounted to 0.03 TWh and decreased by 0.31 TWh (91.6%) as the volume of balancing capacity services provided in Q2 2026 was lower compared to Q2 2025. Accordingly, in Q2 2026 it resulted in a load factor of 1.2%, which was 13.6 pp lower compared to the year prior. The total Installed Capacity of Elektrėnai Complex is 1,055 MW and, during the reporting period, 891 MW were contracted for isolated system operation services, including 260 MW of unit 7, 260 MW of unit 8 and 371 MW of CCGT. 30 Jun 2026 31 Dec 2025 Δ Δ, % 30 Jun 2026 31 Mar 2026 Δ Δ, % Installed Capacity Electricity GW 1.06 1.06 - -% 1.06 1.06 - -% Natural gas GW 1.06 1.06 - -% 1.06 1.06 - -% Key operating indicators 6M 2026 6M 2025 Δ Δ, % Q2 2026 Q2 2025 Δ Δ, % Electricity Electricity Generated (net) TWh 0.29 0.82 (0.53) (65.0%) 0.03 0.34 (0.31) (91.6%) Availability factor1 % 93.4% 97.9% (4.5 pp) n/a 91.6% 96.9% (5.3 pp) n/a Load factor % 6.2% 17.8% (11.6 pp) n/a 1.2% 14.8% (13.6 pp) n/a 1 Excluding the planned overhaul works. 44 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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weighted average prices in the Lithuanian bidding area during the periods when prosumers fed energy into the grid. These amendments are expected to reduce the losses of the independent suppliers related to prosumer supply activities. The exact impact will depend on the methodology established by NERC for assessing prosumers’ losses, the outcome of the related audits, market dynamics and price spreads, as well as the final VIAP tariff set by regulator (NERC). Financial results Q2 results The Customers & Solutions segment’s revenue was 25.0% (EUR 56.2 million) higher than in Q2 2025. Electricity revenue increased due to higher volume supplied (+10.4%) as well as higher average electricity market price (+26.5% in the Lithuanian bidding area). Natural gas revenue increased due to higher selling prices, resulting from a significantly higher TTF index. Customers & Solutions Q2 2026 highlights – Following an in depth investigation reopened after a 2021 General Court judgment, the European Commission decided on 7 April 2026 (case SA.44678) that compensation related to natural gas boil off and balancing costs paid to UAB “Ignitis” (formerly UAB LITGAS) for 2016–2018 complies with EU State aid rules under the SGEI Framework and requires no repayment. The decision may be appealed to the General Court within two months of publication. – We have secured 4 TWh of annual regasification capacity at the Klaipėda LNG terminal for the 2033–2044 period. This ensures long-term access to the global LNG market and greater natural gas supply flexibility. After the reporting period: – We have additionally secured 2 TWh of annual regasification capacity at Klaipėda LNG terminal for the 2033–2044 period. This ensures long- term access to the global LNG market and greater natural gas supply flexibility. – The Parliament of the Republic of Lithuania has approved legislative amendments related to the proposed updates to the prosumer regulation model, securing the net-metering model indefinitely. Starting 1 January 2027, the tariff for energy services of general interest (VIAP in Lithuanian) will be funded by prosumers (up to EUR 0.01/kWh) and other consumers (up to EUR 0.003/kWh). Additionally, the adopted law codifies a market-rate compensation for accumulated but unused electricity, requiring suppliers to apply a price no lower than the The Customers & Solutions segment’s Adjusted EBITDA increased by EUR 0.6 million compared to Q2 2025. Adjusted EBITDA remained relatively stable, as no significant individual factor had a material impact on the performance. Key financial indicators, EURm 6M 2026 6M 2025 Δ Δ, % Q2 2026 Q2 2025 Δ Δ, % Total revenue 818.2 630.3 187.9 29.8% 281.0 224.8 56.2 25.0% Adjusted EBITDA 0.2 (27.7) 27.9 n/a (12.9) (13.5) 0.6 4.4% EBITDA 6.2 (32.4) 38.6 n/a (11.0) (12.9) 1.9 14.7% Adjusted EBIT (4.3) (30.5) 26.2 85.9% (15.0) (15.0) - -% Operating profit (EBIT) 1.6 (35.1) 36.7 n/a (13.3) (14.3) 1.0 7.0% Investments 8.0 10.1 (2.1) (20.8%) 6.0 4.9 1.1 22.4% Adjusted EBITDA Margin 0.0% n/a n/a n/a n/a n/a n/a n/a 30 Jun 2026 31 Dec 2025 Δ Δ, % 30 Jun 2026 31 Mar 2026 Δ Δ, % PPE, intangible and right-of-use assets 92.1 85.7 6.4 7.5% 92.1 89.9 2.2 2.4% 45 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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Operating performance Q2 results In Q2 2026, electricity sales increased by 0.17 TWh (10.4%) compared to Q2 2025. The increase was driven by higher sales to B2B customers, mainly in Poland. The natural gas sales decreased by 0.02 TWh (1.2%) in Q2 2026 compared to Q2 2025. The decrease was driven by lower B2B retail sales. Key operating indicators 6M 2026 6M 2025 Δ Δ, % Q2 2026 Q2 2025 Δ Δ, % Electricity sales Lithuania TWh 2.59 2.56 0.03 1.3% 1.09 1.16 (0.07) (5.7%) Latvia TWh 0.48 0.40 0.08 20.3% 0.20 0.18 0.02 9.9% Estonia TWh 0.05 - 0.05 -% 0.03 - 0.03 -% Poland TWh 0.97 0.59 0.38 64.5% 0.48 0.29 0.19 65.2% Total retail TWh 4.09 3.54 0.55 15.5% 1.80 1.63 0.17 10.4% of which B2C TWh 1.08 1.13 (0.05) (4.5%) 0.43 0.50 (0.07) (13.6%) of which B2B TWh 3.01 2.41 0.60 24.8% 1.37 1.13 0.24 21.0% Natural gas sales TWh 6.28 4.42 1.86 42.2% 1.46 1.48 (0.02) (1.2%) Retail sales TWh 4.25 3.77 0.47 12.6% 1.15 1.20 (0.05) (4.3%) by market TWh Lithuania TWh 3.02 2.53 0.49 19.6% 0.79 0.76 0.04 4.8% Latvia TWh 0.15 0.05 0.10 198.4% 0.05 0.02 0.03 123.3% Estonia TWh - - - -% - - - -% Poland TWh 0.22 0.15 0.07 44.3% 0.09 0.07 0.03 38.3% Finland TWh 0.85 1.04 (0.19) (18.3%) 0.21 0.35 (0.14) (40.4%) by customer TWh of which B2C TWh 1.69 1.40 0.29 20.6% 0.36 0.35 0.01 2.2% of which B2B TWh 2.56 2.37 0.19 7.8% 0.79 0.85 (0.06) (7.0%) Wholesale sales TWh 1.91 0.59 1.32 222.4% 0.23 0.26 (0.03) (9.9%) Biomethane sales TWh 0.12 0.05 0.07 137.8% 0.08 0.02 0.06 235.6% Customer experience NPS (B2C – transactional) score 77.5 72.5 5.0 6.9% 77.4 73.1 4.3 5.9% NPS (B2B – transactional) score 68.0 65.0 3.0 4.6% 73.0 64.0 9.0 14.1% 30 Jun 2026 31 Dec 2025 Δ Δ, % 30 Jun 2026 31 Mar 2026 Δ Δ, % Electricity Number of customers million 1.4 1.4 0.0 0.3% 1.4 1.4 0.0 0.6% EV charging points units 1,907 1,799 108 6.0% 1,907 1,854 53 2.9% Natural gas Number of customers million 0.6 0.6 0.0 (0.1%) 0.6 0.6 0.0 (0.1%) Gas inventory TWh 0.6 0.7 (0.1) (20.2%) 0.6 0.7 (0.1) (19.2%) 46 / 90 First six months 2026 interim report / Results Verified by MarkSign.lt
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47 / 90 Governance First six months 2026 interim report / Governance 4.1 Governance update 48 4.2 Risk management update 53 Verified by MarkSign.lt
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Overview In this section, we highlight the key changes, if any, related to the governance of the Group both during and after the reporting period. Key changes during the reporting period During the reporting period, there were significant changes related to the governance of the Group as described below. Expectations of Majority Shareholder In accordance with the Property Guidelines (link in Lithuanian), the Majority Shareholder of the parent company, the Republic of Lithuania, which held 74.99% of the parent company’s shares at the end of the reporting period and whose rights and obligations are exercised by the Ministry of Finance of the Republic of Lithuania, submits a Letter of Expectations to the parent company at least once every four years on the objectives pursued by the Majority Shareholder in the state- owned enterprise and its expectations. On 9 March 2026, the parent company received the updated Letter of Expectations. It expressed the expectation of continuity of strategic directions and set new priorities, described below. The Letter of Expectations expressed expectations regarding the continuity of the strategic directions, including expectations for sustainable development and maintenance of Green Capacities and Networks, energy resilience and security, offshore wind projects in Lithuania, the asset rotation program, good governance practices, positive customer experience, net zero emissions by 2050, Net Debt/Adjusted EBITDA of <5x, a ≥BBB credit rating, Adjusted ROCE of ≥6.5% and annual dividend growth of ≥3%. The Letter of Expectations also set out new priorities, including: – develop new business models to drive energy demand and attract energy-intense businesses to Lithuania, prioritising data centres; – prioritise focused, sustainable and profitable development of green capacities to significantly contribute to the energy security and green transition in the region. The Group should analyse and evaluate the green capacities development opportunities while taking into account the power supply and demand ratio and their potential in the market as well as invest in their development in Lithuania and other EU Member States, provided that the hurdle rate is ensured. When the Group obtains the construction permit for a project or is close to obtain it, it may make further significant investments (exceeding 5–10% of the total investments into the project) only if the project meets the hurdle rate; – prepare potential scenarios for further development of Curonian Nord offshore wind farm with alternative solutions that could ensure the economic viability of the project. When making final investment decisions (FID) regarding offshore wind projects, the hurdle rate must be ensured; – enhance the efficiency of operational activities. Selection of the parent company’s CEO for a new term Given that the second term of the current CEO of the parent company, Darius Maikštėnas, expires on 28 February 2027, the Group announced a selection process for the Group CEO on 1 June 2026. Under the Law on Companies of the Republic of Lithuania, in a state-owned company the same person may be elected as CEO of the same company for no more than two consecutive terms. The selection process was announced eight months before the end of the current CEO’s term, in line with international best practices for senior executive recruitment and in order to ensure sufficient time for selecting the best candidate and for the handover of responsibilities. The CEO of the parent company is appointed for a five- year term. According to the Description of the Guidelines on Corporate Governance of the State- Owned Group of Energy Companies, the Chair of the Management Board of the parent company is the CEO of the parent company. General Meetings of Shareholders The Annual General Meeting of Shareholders (AGM) was held on 25 March 2026. The AGM 4.1 Governance update 48 / 90 First six months 2026 interim report / Governance Verified by MarkSign.lt
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agreed to the parent company’s consolidated annual management report, approved the set of annual financial statements and the set of consolidated financial statements, allocated the parent company's profit (loss), and agreed to the decisions of the parent company’s Management Board of 24 February 2026 and 9 March 2026. Changes in the Group’s management and supervisory bodies – On 31 January 2026, Pawel Dominik resigned from the Management Board of Ignitis Polska sp. z o.o. – On 24 February 2026, Mantas Burokas started his second term as the CEO of UAB Vilniaus kogeneracinė jėgainė. – On 25 March 2026, Vidmantas Salietis ceased to serve as a member of the Boards of UAB "Ignitis renewables", UAB “Ignitis gamyba” and UAB “Ignitis”. – On 26 March 2026, the Supervisory Board elected a new Management Board of the parent company. Darius Maikštėnas, Jonas Rimavičius, Dr. Živilė Skibarkienė, Vytenis Koryzna and Mantas Mikalajūnas were elected as Management Board members. Darius Maikštėnas continues as the Chair of the Management Board and the CEO of the parent company until the end of his second term as the CEO on 28 February 2027. – In March 2026, the composition of the Boards of the subsidiaries of UAB “Ignitis renewables” listed below has been changed as follows: – Matthew Braund ceased to serve as a member of the Boards of Ignitis renewables Estonia DevCo1 OÜ, Kadrina 1 Energiapark OÜ, Pärnu 1 Energiapark OÜ, Tõrva 1 Energiapark OÜ, Väike-Maarja 1 Energiapark OÜ, Pärnu 2 Energiapark OÜ, Haljala 1 Energiapark OÜ, Haapsalu 1 Energiapark OÜ and Sander Sorts was elected as a new member of the Boards of these companies; – Matthew Braund ceased to serve as a member of the Boards of IGN RES DEV1 SIA, IGN RES DEV3 SIA, IGN RES DEV4 SIA, IGN RES DEV5 SIA, IGN RES DEV6 SIA, IGN RES DEV7 SIA, and Armands Rabovičs was elected as a new member of the Boards of these companies; – Matthew Braund ceased to serve as a member of the Boards of SIA BRVE and SIA CVE, and Gary Charles Bills was elected as a new member of the Boards of these companies. – On 2 April 2026, Vytenis Koryzna was elected as a member of the Boards of UAB “Ignitis”, UAB “Ignitis renewables” and AB “Ignitis gamyba”. – On 20 April 2026, Jonas Rimavičius resigned from the Board of UAB Vilniaus kogeneracinė jėgainė, and on 21 April 2026, Yann Benharouch was elected as a member of the Board of UAB Vilniaus kogeneracinė jėgainė. – On 28 April 2026, Vitalijus Žuta ceased to serve as a member of the Board of UAB Kaunas kogeneracinė jėgainė, and Paulius Martinkus was elected as a member of the Board of UAB Kaunas kogeneracinė jėgainė. – On 30 April 2026, Gary Charles Bills ceased to serve as the CEO of UAB "EURAKRAS", UAB "VĖJO VATAS", UAB "VĖJO GŪSIS", UAB "VVP Investment", and, on 1 May 2026, Michael David Cameron was appointed as the new CEO of these companies. – On 16 June 2026, the parent company made a decision to change the governance structure of its subsidiary, UAB “Ignitis grupės paslaugų centras”, from a one-tier governance model with a Board to a structure with a sole executive body, the CEO. – On 30 June 2026, Jacek Wojerz was re-elected to the Management Board of Silesia1 Wind Farm Sp. z o.o. for a new term of office. – On 30 June 2026, Augustas Dragūnas, Laurynas Jocys, and Maciej Kowalski were elected as members of the Supervisory Board of Silesia2 Wind Farm Sp. z o.o. Changes in the Group’s structure – On 30 March 2026, the parent company completed the transaction for the sale of the 49% shares in UAB Vilniaus kogeneracinė jėgainė (Vilnius CHP) to Quaero European Infrastructure Fund III, a fund managed by Quaero Capital SA, while retaining control of Vilnius CHP (51% of the shares). – On 21 April 2026, UAB “Ignitis Data Center Solutions”, a subsidiary of AB “Ignitis grupė”, was established, and Anu Eslas was appointed as its CEO. – On 5 May 2026, BESS Skarbimierz sp. z o.o. was established by Ignitis Renewables Polska sp. z o.o. and Ignitis RES DEV sp. z o.o. Jacek Wojers and Laurynas Jocys were elected as members of the Management Board of BESS Skarbimierz sp. z o.o. – On 18 May 2026, UAB “Ignitis Data Center Solutions” established its subsidiary, UAB “Datum MidCo”, and Anu Eslas was appointed as its CEO. – In May and June 2026, the following subsidiaries of UAB “Datum MidCo” were established: UAB DC SPV 2 (established on 29 May 2026), UAB “Kruonis DC” (established on 1 June 2026), UAB “Elektrėnai DC” (established on 1 June 2026), and UAB DC SPV 1 (established on 2 June 2026). Anu Eslas was appointed as CEO of these companies. The collegial bodies of the Group companies carried out self-assessments In line with the best corporate governance practices and the aim set out in the Letter of Expectations as well as the Corporate Governance Code for the Companies Listed on Nasdaq Vilnius, the collegial bodies of the parent company and the Group companies carried out self-assessments and agreed on further actions to improve their functioning. 49 / 90 First six months 2026 interim report / Governance Verified by MarkSign.lt
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Shareholders’ rights and competence Information on the General Meetings of Shareholders Supervisory and management bodies. Functions, selection criteria, management of conflicts of interests as well as remuneration principles of collegial body members and CEOs, including the information on their education, competences, experience, place of employment and participation in the capital of the parent company or its subsidiaries The Group's governance model The Group’s structure and information on companies Selected information is available in our Integrated Annual Report 2025 as well as on our website Key changes after the reporting period After the reporting period, there were significant changes related to the governance of the Group as described below. General Meetings of Shareholders There were no General Meetings of Shareholders convened after the reporting period. Changes in the Group’s management and supervisory bodies – On 2 July 2026, the amended Articles of Association of UAB “Ignitis grupės paslaugų centras” were registered, and the members of the Board of UAB “Ignitis grupės paslaugų centras” – Dr. Živilė Skibarkienė (Chair, shareholder representative), Milda Čeplinskienė (shareholder representative) and Marius Ivanauskas (independent member) – ceased to hold office. – On 9 July 2026, Artūras Bortkevičius ceased to serve as CEO of UAB “Ignitis”, and on 10 July 2026, Andrius Kavaliauskas assumed the position of CEO of UAB “Ignitis”. Changes in the Group’s structure After the reporting period, there were no significant changes related to the Group’s structure. 50 / 90 First six months 2026 interim report / Governance Verified by MarkSign.lt
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Members of the Supervisory Board Alfonso Faubel Chair, member since 26/10/2021 Re-elected on 27/10/2025 Independent Competency: renewable energy T erm of office expires: 26/10/2029 Judith Buss Member since 12/11/2020 Re-elected on 26/10/2021 and 27/10/2025 Independent Competency: finance and investment T erm of office expires: 26/10/2029 Tim Brooks Member since 26/10/2021 Re-elected on 27/10/2025 Independent Competency: sustainability and ESG, including HSE T erm of office expires: 26/10/2029 Aušra Vičkačkienė Member since 30/08/2017 Re-elected on 26/10/2021 and 27/10/2025 Civil servant Competency: public policy and governance T erm of office expires: 26/10/2029 Lorraine Wrafter Member since 26/10/2021 Re-elected on 27/10/2025 Independent Competency: organisational development T erm of office expires: 26/10/2029 Ingrida Muckutė Member since 26/10/2021 Re-elected on 27/10/2025 Civil servant Competency: accounting and audit T erm of office expires: 26/10/2029 Sian Lloyd Rees Member since 11/09/2024 Re-elected on 27/10/2025 Independent Competency: risk oversight T erm of office expires: 26/10/2029 Jutta Dissen Member since 27/10/2025 Independent Competency: energy transition and flexibility technologies T erm of office expires: 26/10/2029 Lina Liubauskaitė Member since 27/10/2025 Civil servant Competency: regulatory T erm of office expires: 26/10/2029 Composition of the Supervisory Board and the Management Board The composition of the Supervisory Board of the parent company remained unchanged during the reporting period. 51 / 90 First six months 2026 interim report / Governance Verified by MarkSign.lt
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Darius Maikštėnas Chair, member since 01/02/2018 Re-elected on 18/02/2022 Competency: strategy and management, sustainability T erm of office expired: 25/03/2026 Members of the Management Board till 25 March 2026 Dr. Živilė Skibarkienė Member since 01/02/2018 Re-elected on 18/02/2022 Competency: organisational development T erm of office expired: 25/03/2026 Jonas Rimavičius Member since 18/02/2022 Competency: finance T erm of office expired: 25/03/2026 Vidmantas Salietis Member since 01/02/2018 Re-elected on 18/02/2022 Competency: commercial activities T erm of office expired: 25/03/2026 Mantas Mikalajūnas Member since 18/02/2022 Competency: regulated activities T erm of office expired: 25/03/2026 Darius Maikštėnas Chair, member since 01/02/2018 Re-elected on 18/02/2022 and 26/03/2026 Competency: strategy and management T erm of office expires: 28/02/20271 Members of the Management Board from 26 March 2026 Dr. Živilė Skibarkienė Member since 01/02/2018 Re-elected on 18/02/2022 and 26/03/2026 Competency: people and business support T erm of office expires: 25/03/2030 Jonas Rimavičius Member since 18/02/2022 Re-elected on 26/03/2026 Competency: finance T erm of office expires: 25/03/2030 Vytenis Koryzna Member since 26/03/2026 Competency: energy markets and commerce T erm of office expires: 25/03/2030 Mantas Mikalajūnas Member since 18/02/2022 Re-elected on 26/03/2026 Competency: regulated business and government relations T erm of office expires: 25/03/2030 The composition of the Management Board of the parent company changed during the reporting period. The term of the Management Board of the parent company expired on 25 March 2026; therefore, the Supervisory Board elected a new Management Board of the parent company on 26 March 2026. 1 According to the requirements of the Description of the Corporate Governance Guidelines of the State-Owned Group of Energy Companies, the CEO of the parent company is the Chair of the Management Board. According to the Law on Companies of the Republic of Lithuania (link in Lithuanian), the CEO of a state-owned enterprise is appointed for a term of five years. The same person may be appointed as the CEO of the same company for no more than two consecutive terms. Darius Maikštėnas started his second term as the CEO of the parent company on 1 March 2022. He will continue to serve as the Chair of the Management Board and the CEO of the parent company until the end of his second term as the CEO of the parent company on 28 February 2027. 52 / 90 First six months 2026 interim report / Governance Verified by MarkSign.lt
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4.2 Risk management update Risk management framework Overview The Group is exposed to a range of internal and external risks that could affect its performance. T o address these risks, we adhere to standardised risk management principles based on best practices, including COSO and ISO 31000:2018. Our 'Three-lines enterprise risk management framework' ensures a clear segregation of responsibilities among management, supervisory bodies, structural units, and functions. We ensure that our risk management information and decision-making are consistent by utilising a uniform risk management process implemented across all Group companies and functions. This process includes quarterly monitoring of risks, measures, and key risk indicators, as well as the preparation of internal reports for management. More detailed information on our risk management framework is available in our Integrated Annual Report 2025. Key risks of the Group No material changes were identified in the Group’s key risks or their residual risk levels in Q2 2026 compared to the previous quarter. The identified risks continue to be closely monitored and mitigated as part of ongoing risk management efforts. The descriptions of and mitigation plans for the key risks of the Group, including the risk heat map, are disclosed in our Integrated Annual Report 2025. 53 / 90 First six months 2026 interim report / Governance Verified by MarkSign.lt
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54 / 90 Additional information 5.1 Notes on restated figures 55 5.2 Other statutory information 56 5.3 Terms and abbreviations 58 5.4 Legal notice 60 First six months 2026 interim report / Additional information Verified by MarkSign.lt
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5.1 Notes on restated figures In this section we provide a summary of restated figures, if any, presented in this report compared to previous reporting periods. 1. Regarding the Scope 3 emissions figure Due to improvements in the collection and management of the data on waste made with yearly reporting for 2025, the Scope 3 category 5 figure has been recalculated (decreased by 0.05 m t CO2-eq). This led to a decrease in the total GHG emissions previously reported for 6M 2025. 55 / 90 First six months 2026 interim report / Additional information Verified by MarkSign.lt
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5.2 Other statutory information This First six months 2026 interim report includes a consolidated interim management report and consolidated interim financial statements, as well as the parent company’s interim financial statements, which provide information to shareholders, creditors and other stakeholders of the parent company about the operations of the parent company and its subsidiaries, which are collectively referred to as the Group companies, for the period of January–June 2026. The parent company’s CEO is responsible for the preparation of consolidated interim management reports, sets of interim financial statements and consolidated interim financial statements. The parent company’s Management Board considers and approves consolidated interim management reports, which are submitted together with sets of interim financial statements prepared for the purpose of making decisions on the allocation of dividends for a period shorter than the financial year. The Supervisory Board submits comments and proposals to the General Meeting of Shareholders regarding draft decisions on the allocation of dividends for a period shorter than the financial year, sets of interim financial statements and consolidated interim management reports. On 12 August 2026, the Management Board of the parent company considered and approved the consolidated interim management report for the first six months of 2026 and the Supervisory Board submitted proposals to the General Meeting of Shareholders. The set of interim condensed financial statements for the six-month period ended on 30 June 2026 is subject for approval by the General Meeting of Shareholders to be held on 9 September 2026. This report has been prepared in accordance with the Law on Companies of the Republic of Lithuania (link in Lithuanian), the Law on Financial Reporting by Undertakings and Groups of Undertakings of the Republic of Lithuania (link in Lithuanian), the Listing Rules of Nasdaq Vilnius as well as legal acts and recommendations of relevant supervisory authorities and operators of the regulated markets. Information that must be published by the parent company according to the legal acts of the Republic of Lithuania is made public, depending on the disclosure requirements, either on our website, on the websites of Nasdaq Vilnius, London and Luxembourg stock exchanges or both. Ignitis Group employees 56 / 90 First six months 2026 interim report / Additional information Verified by MarkSign.lt
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Material event notifications of the parent company The parent company’s securities are being traded on regulated markets, ensuring timely transparency, legal certainty and protection of legitimate interests of market participants as well as a fair price formation mechanism. In respect of this, regulated information, including the Group’s management reports, financial reports, material events notifications and other relevant information, is being published on London Stock Exchange, Nasdaq Vilnius and Luxembourg stock exchanges to ensure investors' right to access relevant and reliable information as soon as possible, as laid down in EU, Lithuanian and UK laws. Information on the parent company’s ordinary registered shares’ account manager AB SEB bankas (info@seb.lt) is appointed as the parent company’s ordinary registered shares’ account manager for the purposes of accounting securities and paying dividends. The holders of global depositary receipts, representing the ordinary registered shares of the parent company (hereinafter – GDR), must consult with the GDR issuer (the Bank of New York Mellon), its authorised party or their securities’ account managers for GDR-related information. Relevant contact details of the Bank of New York Mellon are available here. Alternative Performance Measures Alternative Performance Measures (APM) are adjusted figures used in this report that refer to the measures used for internal performance management. As such, they are not defined or specified under International Financial Reporting Standards (IFRS), nor do they comply with IFRS requirements. Definitions of Alternative Performance Measures can be found on the Group’s website. Internal control and risk management systems involved in the preparation of financial statements The Group’s financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU. The employees of the company providing accounting services to the parent company ensure that the financial statements are prepared properly and that all the data is collected in a timely and accurate manner. The preparation of the Group companies’ financial statements, internal control and financial risk management systems are monitored and managed based on the legal acts governing the preparation of financial statements. Related-party transactions Related-party transactions concluded during the reporting period are disclosed in section ‘7 Parent company’s financial statements’ of this report. A full list of all previously concluded related-party transactions is available on our website. More detailed information regarding our related-party transaction policy is available here. Information on the parent company’s branches and representative offices and research and development activities The parent company has no branches and representative offices, nor does the parent company carry out research and development activities. Notice on the language In the event of any discrepancy between the Lithuanian and English versions of the document, the English version shall prevail. 57 / 90 First six months 2026 interim report / Additional information Verified by MarkSign.lt
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5.3 Terms and abbreviations AGM Annual General Meeting of Shareholders of AB “Ignitis grupė” APM Alternative performance measure (link) Awarded / Contracted Green Capacities projects that meet at least one of the following criteria: (i) awarded through government auctions or tenders, including mechanisms such as Contracts for Difference (CfD), Feed-in Premium (FiP), Feed-in T ariff (FiT), or seabed with grid connection, or (ii) secured offtake through Power Purchase Agreements (PPA) or similar instruments, where the total secured offtake covers at least 50% of the project’s expected annual generation volume B2B Business to business B2C Business to consumer BESS Battery energy storage system CCGT Combined Cycle Gas Turbine CEO Chief Executive Officer CfD Contract for difference CHP Combined heat and power (cogeneration) plant Clean Spark Spread The difference between the combined cost of gas and emissions allowances and the price of electricity Commercial Operation Date (COD) Green Capacities projects that have achieved Installed Capacity CPI Consumer Price Index Electricity Generated (net) Electricity generated and sold by wind farms, solar farms, biomass and WtE CHPs, hydropower plants (including Kruonis Pumped Storage Hydroelectric Power Plant) and Elektrėnai Complex eNPS Employee Net Promoter Score ESG Environmental, social and corporate governance Energijos Skirstymo Operatorius (ESO) AB “Energijos skirstymo operatorius” Final Investment Decision (FID) A decision by a relevant governance body to make significant financial commitments related to the project FiT Feed-in tariff FIP Feed-in premium, a fixed premium to the electricity market price FTE Full-time equivalent GDR Global depositary receipt General Meeting (GM) General meeting of shareholders of AB “Ignitis grupė” GHG Greenhouse gas Green Electricity Generated (net) Electricity generated by wind farms, solar farms, biomass and WtE CHPs, hydroelectric power plants (including Kruonis Pumped Storage Hydroelectric Power Plant) Green Share of Generation Green Share of Generation is calculated as follows: Green Electricity Generated (including Kruonis Pumped Storage Hydroelectric Power Plant) divided by the total electricity generated by the Group GRI Global Reporting Initiative Group or Ignitis Group AB “Ignitis grupė” and its directly and indirectly controlled legal entities Heat Generated (net) Heat generated by biomass and WtE CHPs HPP Hydroelectric power plant IFRS International Financial Reporting Standards Ignitis UAB “Ignitis” Ignitis Gamyba UAB “Ignitis gamyba” Ignitis Group Service Centre UAB “Ignitis grupės paslaugų centras” Ignitis Renewables UAB “Ignitis renewables” 58 / 90 First six months 2026 interim report / Additional information Verified by MarkSign.lt
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Installed Capacity The date on which all equipment of Green Capacities project is: (1) installed, (2) connected, (3) authorised by the competent authority to generate/store energy, and (4) commissioned. Performance testing may still be ongoing ISIN International Securities Identification Number Kaunas CHP UAB Kauno kogeneracinė jėgainė LTM Last twelve months NERC National Energy Regulatory Council New connection points and upgrades Number of new customers connected to the network and capacity upgrades of the existing connection points NPS Net promoter score OECD Organisation for Economic Co-operation and Development OHS Occupational health and safety Other activities and eliminations Includes consolidation adjustments, related-party transactions and financial results Parent company AB “Ignitis grupė” PPA Power purchase agreement PPE Property, plant and equipment PSHP Pumped-storage hydroelectric power plant Public supply Electricity supply activity performed in accordance with the procedure and terms established by legal acts by an entity holding a public supply licence RAB Regulated asset base RES Renewable energy sources REMIT Regulation of the European parliament on wholesale energy market integrity and transparency ROI Return on Investment SAIDI Average duration of unplanned interruptions in electricity or gas transmission SAIFI Average number of unplanned long interruptions per customer SBTi Science Based Targets initiative Secured Capacity Green Capacities projects at the following stages: (i) Installed Capacity, (ii) Under Construction, or (iii) Awarded / Contracted SF Solar farm TRIR Total Recordable Incident Rate Under Construction Green Capacities projects with building permits secured or permitting in process, and meeting at least one of the following criteria: (i) a notice to proceed has been given to the first contractor, or (ii) a Final Investment Decision has been made Vilnius CHP UAB Vilniaus kogeneracinė jėgainė VWAP Volume-weighted average price WACC Weighted average cost of capital WF Wind farm WtE Waste-to-energy 59 / 90 First six months 2026 interim report / Additional information Verified by MarkSign.lt
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5.4 Legal notice This document has been prepared by the parent company solely for informational purposes and must not be relied upon, disclosed or published, or used in part for any other purpose. The document should not be treated as investment advice or provide basis for valuation of the parent company’s securities and should not be considered as a recommendation to buy, hold, or sell any of its securities, or any of the businesses or assets referenced in the document. The information in this document may comprise information which is neither audited nor reviewed by independent third parties and should be considered as preliminary and potentially subject to change. This document may also contain certain forward- looking statements, including but not limited to, the statements and expectations regarding anticipated financial and operational performance. These statements are based on the management's current views, expectations, assumptions, and information as of the date of this document announcement as well as the information that was accessible to the management at that time. Statements herein, other than the statements of historical fact, regarding the parent company’s future results of operations, financials, business strategy, plans and future objectives are forward- looking statements. Words such as ‘forecast’, ‘expect’, ‘intend’, ‘plan’, ‘will’, ‘may’, ‘should’, ‘continue’, ‘predict’ or variations of these words, as well as other statements regarding the matters that are not a historical fact or regarding future events or prospects, constitute forward-looking statements. The parent company bases its forward-looking statements on its current views, which involve a number of risks and uncertainties, which may be beyond the parent company’s control or difficult to predict, and could cause the actual results to differ materially from those predicted and from the past performance of the parent company. The estimates and projections reflected in the forward- looking statements may prove materially incorrect and the actual results may materially differ due to a variety of factors, including, but not limited to, legislative and regulatory factors, geopolitical tensions, economic environment and industry development, commodity and market factors, environmental factors, finance-related risks as well as expansion and operation of generation assets. Therefore, a person should not rely on these forward-looking statements. For further risk- related information, please see section ‘4.2 Risk management update’ of this report and ‘4.7 Risk management’ section of our Integrated Annual Report 2025, all available at https://ignitisgrupe.lt/ en/reports-presentations-and-fact-sheets. Certain financial and statistical information presented in this document is subject to rounding adjustments. Accordingly, any discrepancies between the listed totals and the sums of the amounts are due to rounding. Certain financial information and operating data relating to the parent company presented in this document has not been audited and, in some cases, is based on the management’s information and estimates, and is subject to change. This document may also include certain non-IFRS measures (e.g., Alternative Performance Measures, described at https://ignitisgrupe.lt/en/reports-presentations-and- fact-sheets), which have not been subjected to a financial audit for any period. In the event of any discrepancy between the Lithuanian and the English versions of the document, the English version shall prevail. No responsibility or liability will be accepted by the parent company, its affiliates, officers, employees, or agents for any loss or damage resulting from the use of forward-looking statements in this document. Unless required by the applicable law, the parent company is under no duty and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 60 / 90 First six months 2026 interim report / Additional information Verified by MarkSign.lt
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61 / 90 Consolidated financial statements First six months 2026 interim report / Consolidated financial statements 6.1 Interim condensed consolidated statement of profit or loss 62 6.2 Interim condensed consolidated statement of comprehensive income 63 6.3 Interim condensed consolidated statement of financial position 64 6.4 Interim condensed consolidated statement of changes in equity 65 6.5 Interim condensed consolidated statement of cash flows 66 6.6 Notes 67 Unaudited interim condensed consolidated financial statements for the six-month period ended 30 June 2026, prepared in accordance with International accounting standard 34 'Interim financial reporting' as adopted by the European Union. Verified by MarkSign.lt
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6.1 Interim condensed consolidated statement of profit or loss For the six-month period ended 30 June 2026 EURm Note 6M 2026 6M 2025 Q2 2026 Q2 2025 Revenue from contracts with customers 6 1,491.3 1,294.5 557.3 526.5 Other income 6.2 3.5 1.2 (1.3) Total revenue 1,497.5 1,298.0 558.5 525.2 Purchase of electricity, natural gas and other services 7.1 (993.4) (849.4) (329.9) (320.4) Salaries and related expenses 7.2 (104.4) (92.7) (51.5) (47.0) Repair and maintenance expenses 7.3 (32.9) (32.2) (18.4) (18.1) Other expenses 7.4 (63.3) (61.2) (30.6) (37.3) Total expenses (1,194.0) (1,035.5) (430.4) (422.8) EBITDA 5 303.5 262.5 128.1 102.4 Depreciation and amortisation (127.3) (100.1) (64.2) (51.0) Write-offs, revaluation and impairment losses of property, plant and equipment and intangible assets (3.7) (2.1) (0.9) (1.1) Operating profit (EBIT) 172.5 160.3 63.0 50.3 Finance income 8 5.4 5.9 2.8 (2.3) Finance expenses 8 (42.8) (35.3) (19.8) (19.1) Finance activity, net (37.4) (29.4) (17.0) (21.4) Profit (loss) before tax 135.1 130.9 46.0 28.9 Income tax (expenses)/benefit 9 (21.9) (19.5) (5.6) (1.4) Net profit for the period 113.2 111.4 40.4 27.5 Attributable to: Shareholders in AB “Ignitis grupė” 113.5 111.4 40.4 27.5 Non-controlling interest (0.3) - - - Basic and diluted earnings per share (EUR) 14.3 1.57 1.54 0.56 0.38 Weighted average number of shares 14.3 72,388,960 72,388,960 72,388,960 72,388,960 62 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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6.2 Interim condensed consolidated statement of comprehensive income For the six-month period ended 30 June 2026 EURm Note 6M 2026 6M 2025 Q2 2026 Q2 2025 Net profit for the period 113.2 111.4 40.4 27.5 Change in actuarial assumptions 10 (0.3) (0.5) 0.1 (0.1) Items that will not be reclassified to profit or loss in subsequent periods (net of tax), total (0.3) (0.5) 0.1 (0.1) Cash flow hedges – effective portion of change in fair value 10 16.9 3.2 12.1 0.1 Cash flow hedges – reclassified to profit or loss 10 (5.2) (0.5) (8.1) (3.0) Foreign operations – foreign currency translation differences 10 (4.6) 2.0 (0.4) (4.6) Items that may be reclassified to profit or loss in subsequent periods, total 7.1 4.7 4.4 (7.5) Total other comprehensive income (loss) for the period 6.8 4.2 4.5 (7.6) Total comprehensive income (loss) for the period 120.0 115.6 44.9 19.9 Attributable to: Shareholders in AB “Ignitis grupė” 120.2 115.6 45.1 19.9 Non-controlling interests (0.2) - (0.2) - 63 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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6.3 Interim condensed consolidated statement of financial position As at 30 June 2026 EURm Note 30 June 2026 31 December 2025 30 June 2025 Assets Intangible assets 290.6 293.2 305.7 Property, plant and equipment 4,846.9 4,699.2 4,436.1 Right-of-use assets 125.9 123.5 114.5 Prepayments for non-current assets 46.7 39.7 66.1 Investment property 4.4 4.4 4.2 Non-current receivables 21.3 20.5 20.5 Other financial assets 12 36.7 31.3 34.7 Other non-current assets 20.9 19.5 4.3 Deferred tax assets 33.3 49.1 34.4 Non-current assets 5,426.7 5,280.4 5,020.5 Inventories 219.5 240.0 224.2 Prepayments and deferred expenses 17.7 14.6 29.3 Trade receivables 13 206.5 272.2 202.6 Other receivables 169.5 161.1 135.3 Other current assets 17.7 7.2 8.6 Prepaid income tax 2.0 1.1 4.0 Cash and cash equivalents 274.8 296.3 269.3 Assets held for sale 4.8 6.0 3.5 Current assets 912.5 998.5 876.8 Total assets 6,339.2 6,278.9 5,897.3 EURm Note 30 June 2026 31 December 2025 30 June 2025 Equity and liabilities Share capital 14.1 1,616.4 1,616.4 1,616.4 Reserves 281.7 264.3 268.8 Retained earnings 699.4 614.0 606.8 Equity attributable to shareholders in AB “Ignitis grupė” 2,597.5 2,494.7 2,492.0 Non-controlling interests 38.6 - - Equity 2,636.1 2,494.7 2,492.0 Non-current loans and bonds 15 1,990.7 1,888.1 1,575.9 Non-current lease liabilities 15 97.8 97.8 93.2 Grants and subsidies 264.1 272.5 279.2 Deferred tax liabilities 93.8 90.3 88.2 Provisions 16 112.7 160.3 35.0 Deferred income 370.9 342.4 310.2 Other non-current liabilities 25.6 24.4 22.4 Non-current liabilities 2,955.6 2,875.8 2,404.1 Loans 15 101.8 212.7 201.1 Lease liabilities 15 9.8 9.8 9.0 Trade payables 191.0 220.7 212.6 Advances received 85.5 106.9 76.5 Income tax payable 10.7 28.2 26.0 Provisions 16 87.1 60.4 201.5 Deferred income 21.2 17.2 18.6 Other current liabilities 240.4 252.5 255.9 Current liabilities 747.5 908.4 1,001.2 Total liabilities 3,703.1 3,784.2 3,405.3 Total equity and liabilities 6,339.2 6,278.9 5,897.3 64 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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6.4 Interim condensed consolidated statement of changes in equity For the six-month period ended 30 June 2026 EURm Note Share capital Legal reserve Revaluation reserve Hedging reserve Other reserves Retained earnings Shareholders in AB “Ignitis grupė” interest Non- controlling interest Total Balance as at 1 January 2025 1,616.4 176.8 59.9 (3.3) 25.3 561.7 2,436.8 - 2,436.8 Net profit for the period - - - 111.4 111.4 - 111.4 Other comprehensive income (loss) for the period 10 - - - 2.7 2.0 (0.5) 4.2 - 4.2 Total comprehensive income (loss) for the period - - - 2.7 2.0 110.9 115.6 - 115.6 Transfer of revaluation reserve (net of tax) - - (3.8) - - 3.8 - - - Transfers to legal reserve - 9.2 - - - (9.2) - - - Dividends 14.2 - - - - - (48.0) (48.0) - (48.0) Dividends to non-controlling interest - - - - - (12.4) (12.4) - (12.4) Balance as at 30 June 2025 1,616.4 186.0 56.1 (0.6) 27.3 606.8 2,492.0 - 2,492.0 Balance as at 1 January 2026 1,616.4 185.9 52.4 (2.1) 28.1 614.0 2,494.7 - 2,494.7 Net profit for the period - - - 113.5 113.5 (0.3) 113.2 Other comprehensive income (loss) for the period 10 - - - 11.7 (4.6) (0.3) 6.8 0.1 6.7 Total comprehensive income (loss) for the period - - - 11.7 (4.6) 113.2 120.2 (0.2) 120.0 Transfer of revaluation reserve (net of tax) - - (2.8) - - 2.8 - - - Transfers to legal reserve - 13.1 - - - (13.1) - - - Dividends 14.2 - - - - - (49.4) (49.4) - (49.4) Dividends to non-controlling interest - - - - - (13.9) (13.9) (26.0) (39.9) Transactions with non-controlling interest 18 - - - - - 45.8 45.8 64.8 110.6) Balance as at 30 June 2026 1,616.4 199.0 49.6 9.6 23.5 699.4 2,597.5 38.6 2,636.1 65 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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6.5 Interim condensed consolidated statement of cash flows For the six-month period ended 30 June 2026 EURm Note 6M 2026 6M 2025 Q2 2026 Q2 2025 Net profit for the period 113.2 111.4 40.4 27.5 Adjustments for: Depreciation and amortisation expenses 136.0 108.9 68.6 55.4 Depreciation and amortisation of grants (8.7) (8.8) (4.4) (4.4) Impairment (reversal) of property, plant and equipment and goodwill - 0.2 - 0.1 Impairment/(reversal of impairment) of financial assets 1.6 0.1 (0.6) (0.4) Fair value changes of derivatives 17 0.4 (0.6) 2.0 3.9 Fair value changes of financial assets - 2.8 - 2.8 Income tax expenses/(benefit) 9 21.9 19.5 5.6 1.4 Increase/(decrease) in provisions 16 (21.4) 98.2 (30.2) 30.3 Inventory write-off to net realizable value/(reversal) (1.3) 2.4 (0.6) (1.8) Loss/(gain) on disposal/write-off of assets held for sale and property, plant and equipment 4.3 2.6 1.2 1.3 Interest income (5.3) (5.9) (2.7) (2.8) Interest expenses 33.2 25.1 16.9 12.6 Other expenses/(income) of financing activities 6.1 7.4 2.9 8.8 Other non-monetary adjustments - 1.4 0.3 0.9 Changes in working capital: (Increase)/decrease in trade receivables and other receivables 58.2 116.2 88.6 147.7 (Increase)/decrease in inventories, prepayments and deferred expenses, other current and non-current assets and other financial assets 13.0 11.5 32.0 2.2 Increase/(decrease) in trade payables, deferred income, advances received, other non-current and current liabilities (18.9) (12.0) (16.1) (25.8) Income tax (paid)/received (23.5) (13.5) (14.7) (11.4) Net cash flows from operating activities 308.8 466.9 189.2 248.3 Acquisition of property, plant and equipment and intangible assets (308.3) (343.4) (142.0) (180.2) Proceeds from sale of property, plant and equipment, assets held for sale and intangible assets 3.2 2.1 1.3 1.4 Loans granted (1.3) (1.6) - (1.0) Grants received 0.3 0.5 0.2 0.2 Interest received 1.8 0.5 0.7 0.3 Finance lease payments received 0.9 0.8 0.6 0.4 (Investments in)/return from investment funds 12.1 (1.1) (2.3) (1.1) (1.9) Net cash flows from investing activities (304.5) (343.4) (140.3) (180.8) EURm Note 6M 2026 6M 2025 Q2 2026 Q2 2025 Loans received 555.1 - 20.6 - Repayments of loans 15.2 (291.7) (26.3) (20.1) (13.1) Loans assumed through business combination 15.2 - 0.5 - 0.5 Overdrafts net change 15.2 (267.4) 26.2 (28.1) 8.9 Lease payments 15.2 (6.1) (5.6) (2.5) (2.9) Interest paid 15.2 (28.6) (23.1) (16.8) (14.3) Transaction costs (4.1) - - - Proceeds from transactions with non-controlling interests, net of transactions costs 106.3 - 26.0 - Dividends paid (49.4) (48.0) (49.4) (48.0) Dividends paid to non-controlling interest (39.9) (12.4) (39.9) (12.4) Net cash flows from financing activities (25.8) (88.7) (110.2) (81.3) Increase (decrease) in cash and cash equivalents (21.5) 34.8 (61.3) (13.8) Cash and cash equivalents at the beginning of the period 296.3 234.5 336.1 283.1 Cash and cash equivalents at the end of the period 274.8 269.3 274.8 269.3 66 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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6.6 Notes For the six-month period ended 30 June 2026 1 General information AB “Ignitis grupė” (the parent company) is a public limited liability company registered in the Republic of Lithuania. The parent company’s registered office address is Laisvės Ave. 10, LT-04215, Vilnius, Lithuania. The parent company was registered on 28 August 2008 with the Register of Legal Entities managed by the State Enterprise Centre of Registers. The parent company’s code is 301844044. The parent company has been founded for an indefinite period. AB “Ignitis grupė” is a parent company, which is responsible for the management and coordination of activities of the group of companies it controls directly and the group of companies it controls indirectly through its subsidiaries. The parent company and its directly and indirectly controlled companies are hereinafter collectively referred to as ‘the Group’. The Group’s core business is focused on managing and developing its green generation and green flexibility capacities (Green Capacities) and operating Lithuania’s electricity distribution network (Networks). The Group also manages strategically important reserve capacities (Reserve Capacities) and provide services to its customers (Customers & Solutions), including the supply, trading of electricity and natural gas, and developing EV charging network for private (B2C) and business (B2B) customers. Information on the Group’s structure is provided on our website. These are interim condensed consolidated financial statements of the Group. The parent company also prepares interim condensed separate financial statements in accordance with International Accounting Standard (IAS) 34 ‘Interim Financial Reporting’ as required by local legislations. 2 Basis of preparation 2.1 Basis of accounting These interim condensed consolidated financial statements are prepared for the six-month period ended 30 June 2026 (interim financial statements) in accordance with IAS 34. These interim financial statements do not provide all the information required for the preparation of annual financial statements, therefore they must be read in conjunction with the annual financial statements for the year ended 31 December 2025, which have been prepared in accordance with IFRS Accounting Standards (IFRS), which were issued by the International Accounting Standards Board (IASB) and endorsed for application in the European Union. Interim financial statements have been prepared on a going concern basis while applying measurements based on historical costs, except for certain items of property, plant and equipment , investment property, and certain financial instruments measured at fair value. 2.2 Functional and presentation currency These interim financial statements are presented in euros, and all values are rounded to the nearest million (EURm), except when indicated otherwise. 2.3 Alternative performance measures The Group presents financial measures in the interim financial statements which are not defined according to IFRS. The Group uses these A lternative Performance Measures (APM) as it believes that these financial measures provide valuable information to stakeholders and the management. These financial measures should not be considered a replacement for the performance measures, as defined under IFRS, but rather as supplementary information. The APM may not be comparable to similarly titled measures presented by other companies as the definitions and calculations may be different. The most commonly used APMs in the interim financial statements: EBITDA, EBIT, Adjusted EBITDA, Adjusted EBIT, Investments, Net Debt. All of the APMs are described in more detail here. For more information on the APMs, see Note 5. 3 Changes in material accounting policies 3.1 Changes in accounting policy and disclosures The accounting policies applied during the preparation of these interim financial statements are consistent with the accounting policies applied during the preparation of the Group’s annual financial statements for the year ended 31 December 2025, with the exception for the adoption of new standards effective as of 1 January 2026. The Group has not applied any standard, interpretation, or amendment for which the early application is permitted but is not yet effective. 4 Significant accounting estimates and judgments used in the preparation of the financial statements While preparing these interim financial statements, significant management’s judgements regarding the application of the accounting policies and accounting estimates were the same as the ones used while preparing the annual financial statements for the year ended 31 December 2025, except for the changes in the estimated amounts (assumptions) below: Significant accounting estimates and judgments Note Estimate/judgment Expected credit losses of trade receivables and other receivables: collective assessment of ECL, applying provision matrix and individual assessment of ECL 13 Estimate/judgment Regulated activity: accrual of income and regulatory provision from services, ensuring isolated operation of the power system and capacity reserve 16 Estimate Regulated activity: accrual of income and regulatory provision from public electricity supply 16 Estimate 67 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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5 Business segments EURm Green Capacities Networks Reserve Capacities Customers & Solutions Other activities and eliminations Total adjusted Adjustments Total reported 6M 2026 Total revenue 263.2 436.9 86.0 812.2 (97.7) 1,500.6 (3.1) 1,497.5 Purchases of electricity, natural gas and other services (60.9) (195.4) (52.7) (781.6) 97.2 (993.4) - (993.4) Salaries and related expenses (16.6) (47.7) (7.4) (14.1) (18.6) (104.4) - (104.4) Repair and maintenance expenses (10.0) (18.9) (4.1) (0.1) 0.2 (32.9) - (32.9) Other expenses (26.5) (27.6) (3.9) (16.2) 10.9 (63.3) - (63.3) EBITDA 149.2 147.3 17.9 0.2 (8.0) 306.6 (3.1) 303.5 Depreciation and amortization (41.6) (70.6) (6.2) (4.1) (4.8) (127.3) - (127.3) Write-offs, revaluation and impairment losses of property, plant and equipment and intangible assets (1.8) (1.5) - (0.4) - (3.7) - (3.7) EBIT 105.8 75.2 11.7 (4.3) (12.8) 175.6 (3.1) 172.5 Finance activity, net (37.4) - (37.4) Income tax expenses (22.4) 0.5 (21.9) Net profit 115.8 (2.6) 113.2 Investments 80.4 208.3 2.8 8.0 6.6 306.1 - 306.1 6M 2025 Total revenue 271.9 387.1 150.8 635.0 (108.5) 1,336.3 (38.3) 1,298.0 Purchases of electricity, natural gas and other services (48.6) (165.1) (106.1) (636.5) 106.9 (849.4) - (849.4) Salaries and related expenses (15.0) (43.8) (6.7) (11.9) (15.3) (92.7) - (92.7) Repair and maintenance expenses (8.0) (19.0) (5.6) (0.1) 0.5 (32.2) - (32.2) Other expenses (33.7) (26.6) (3.3) (14.2) 16.6 (61.2) - (61.2) EBITDA 166.6 132.6 29.1 (27.7) 0.2 300.8 (38.3) 262.5 Depreciation and amortization (24.4) (61.9) (5.7) (2.7) (5.4) (100.1) - (100.1) Write-offs, revaluation and impairment losses of property, plant and equipment and intangible assets - (1.9) - (0.1) (0.1) (2.1) - (2.1) EBIT 142.2 68.8 23.4 (30.5) (5.3) 198.6 (38.3) 160.3 Finance activity, net (26.6) (2.8) (29.4) Income tax expenses (25.8) 6.3 (19.5) Net profit 146.2 (34.8) 111.4 Investments 156.4 165.2 1.0 10.1 10.5 343.2 - 343.2 68 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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Business segments (equal to ‘Operating segments’ in accordance with IFRS 8) are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing the performance of the business segments, has been identified as the Management Board. The Group is divided into four business segments based on their core activities. For more information about the segments, see sections ‘2.1 Business model’ and ‘3.5 Results by business segments’ of the Integrated Annual Report 2025. The list of entities assigned to each segment is provided on our website. The chief operating decision-maker monitors the results with reference to the financial reports that have been prepared using the same accounting policies as those used for the preparation of the financial statements. The primary alternative performance measure is Adjusted EBITDA. Additionally, the management also analyses Investments of each individual segment. All measures are calculated using the data presented in the financial statements, and selected items which are not defined by IFRS are adjusted by the management. The Group’s management calculates the main performance measures as described by the definitions of Alternative Performance Measures, which can be found in section ‘7.2 Alternative Performance Measures’ of our Integrated Annual Report 2025. 5.1 EBITDA The management’s adjustments include: − temporary regulatory differences (if any); − significant one-off gains or losses (if any). In the management’s view, Adjusted EBITDA more accurately presents the results of the operations and enables a better comparison of the results between the periods as they indicate the amount that was actually earned by the Group during the reporting period. The management’s adjustments used in calculating Adjusted EBITDA: 6M 2026 6M 2025 Δ Δ, % EBITDA APM 303.5 262.5 41.0 15.6% Adjustments Temporary regulatory differences1 19.0 38.3 (19.3) (50.4%) Networks 25.0 33.6 (8.6) (25.6%) Customers & Solutions (6.0) 4.7 (10.7) n/a Significant one-off gains or losses Reserve Capacities (15.9) - (15.9) n/a Total EBITDA adjustments 3.1 38.3 (35.2) (91.9%) Adjusted EBITDA APM 306.6 300.8 5.8 1.9% Adjusted EBITDA Margin APM 20.4% 22.5% (2.1 pp) n/a 1Temporary regulatory differences – elimination of the difference between the actual profit earned during the reporting period and the profit allowed by the regulator. Adjustments related to the Networks segment’s temporary regulatory differences (EUR 25.0 million) include: ̶ eliminating the higher-than-allowed current-year profit of EUR -10.1 million (EUR -19.6 million in 6M 2025), which will be returned during the future periods. The amounts for the current year are based on the management’s estimate, arising from the comparison of the return on investments that is permitted by NERC and that is estimated by the management using actual financial and operating data for the current period; ̶ adding back the higher than-allowed profit earned during the previous periods of EUR 35.1 million (EUR 53.2 million in 6M 2025), which is returned to the customers through tariffs during the current period. These amounts are based on the resolutions passed by NERC. Comparative figures for 6M 2025 differ from the financial statements issued for that period due to a revised allocation of an increase in return on investment, as confirmed by NERC, between the current year and prior period adjustments. The total adjustments’ amounts for 6M 2025 remain unchanged. Adjustments related to the Customers & Solutions segment’s temporary regulatory differences (EUR -6.0 million) include: ̶ eliminating the higher-than-allowed current year return (EUR -6.0 million), which is established in the calculation methodology used by NERC, from natural gas public supply activities (EUR 7.8 million in 6M 2025); ̶ no adjustment in natural gas designated supply activities (EUR -3.1 million in 6M 2025). Adjustments related to significant one-off gains or losses in 6M 2025 include: ̶ eliminating the EUA sales in the Reserve Capacities segment (EUR -15.9 million). 5.2 Operating profit Operating profit (EBIT) adjustments: 6M 2026 6M 2025 Δ Δ, % Operating Profit (EBIT) APM 172.5 160.3 12.2 7.6% Adjustments Total EBITDA adjustments 3.1 38.3 (35.2) (91.9%) Total Operating Profit (EBIT) adjustments 3.1 38.3 (35.2) (91.9%) Adjusted EBIT APM 175.6 198.6 (23.0) (11.6%) 5.3 Net profit Net profit adjustments: 6M 2026 6M 2025 Δ Δ, % Net profit 113.2 111.4 1.8 1.6% Adjustments Total EBITDA adjustments 3.1 38.3 (35.2) (91.9%) One-off financial activity adjustments - 2.8 (2.8) n/a Adjustments’ impact on income tax (0.5) (6.3) 5.8 92.1% Total net profit adjustments 2.6 34.8 (32.2) (92.5%) Adjusted Net Profit APM 115.8 146.2 (30.4) (20.5%) Adjustments related to the impact on income tax (EUR -0.5 million) include: ̶ applying an additional income tax adjustment of 17% (statutory income tax rate in Lithuania) to all of the above net profit adjustments. One-off financial activity adjustments for 6M 2025 include eliminating the investment funds’ decrease in fair value (EUR 2.8 million). 69 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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6 Revenue 6.1 Revenue by type 6.2 Revenue by geographic segment In 6M 2026, the Group earned 76.9% (83.9% in 2025) of its revenue in Lithuania (EUR 1,152.0 million). The Group’s revenue from other countries comprised 23.1% and reached EUR 345.5 million (16.1% and EUR 209.0 million in 2025). The increase in other countries was primarily driven by new services and increased market share. EURm 6M 2026 6M 2025 Lithuania 1,152.0 1,089.0 Poland 147.0 103.7 Latvia 77.4 44.2 Estonia 30.5 3.3 Finland 25.6 56.6 Other countries 65.0 1.2 Total 1,497.5 1,298.0 7 Expenses 7.1 Purchase of electricity, natural gas and other services EURm 6M 2026 6M 20251 Purchase of electricity and related services 679.5 486.1 Purchase of natural gas and related services 271.8 315.8 Other purchases 42.1 47.5 Total 993.4 849.4 1Part of the amounts do not reconcile with the financial statements issued for 6M 2025 due to a different presentation of emission allowances of EUR 24.0 million between ‘Purchases of natural gas and related services’ and ‘Other purchases’. The Group’s purchase of electricity, natural gas and other purchases in 6M 2026 increased by 17.0% compared to 6M 2025. The increase was driven by higher purchase of electricity and related services, mainly due to higher electricity sales, with expenses from the purchase of electricity and related services increasing by 39.8%. 7.2 Salaries and related expenses EURm 6M 2026 6M 2025 Fixed wages and salaries 98.6 89.9 Variable wages and salaries 15.9 14.3 Other wages and salaries expenses 5.3 4.0 Attributable costs to property, plant and equipment and intangible assets (15.4) (15.5) Total 104.4 92.7 In 6M 2026, salaries and related expenses increased by 12.6% compared to 6M 2025, mainly due to the growth in the average salary and headcount at the Group. 7.3 Repairs and maintenance expenses EURm 6M 2026 6M 2025 Electricity network 16.7 16.1 Electricity and heat power generation equipment 13.9 13.5 Natural gas network 1.4 1.6 Other 0.9 1.0 Total 32.9 32.2 EURm 6M 2026 6M 2025 Revenue from the sale of electricity 457.4 287.0 Revenue from electricity transmission and distribution 327.7 275.7 Revenue from sale of produced electricity 217.5 290.8 Revenue from services ensuring the isolated operation of power system and capacity reserve 60.7 91.6 Revenue from public electricity supply 30.6 23.3 Revenue from other electricity related activity 19.9 14.9 Electricity related revenue 1,113.8 983.3 Revenue from natural gas sales 259.9 223.1 Revenue from natural gas distribution 38.4 32.5 Revenue of LNGT security component - 0.8 Revenue from other gas related activity 0.9 0.8 Gas related revenue 299.2 257.2 Revenue from sale of heat energy 43.3 37.8 Other revenue 35.0 16.2 Other revenue from contracts with customers 78.3 54.0 Total revenue from contracts with customers 1,491.3 1,294.5 Other 6.2 3.5 Other income 6.2 3.5 Total revenue 1,497.5 1,298.0 70 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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7.4 Other expenses EURm 6M 2026 6M 2025 Telecommunications and IT services 9.8 7.0 Taxes (other than income taxes) 7.8 6.8 Asset management and administration 7.4 7.1 Customer service 4.8 5.4 Insurance 3.9 2.9 People and culture 2.9 3.0 Finance and accounting 2.4 4.1 Communication 2.4 2.6 Legal 0.7 1.1 Other 21.2 21.2 Total 63.3 61.2 8 Finance activity EURm 6M 2026 6M 2025 Interest income at the effective interest rate 5.3 5.9 Other income from financing activities 0.1 - Total finance income 5.4 5.9 Interest expenses 30.7 23.7 Amounts under trade finance agreements 2.1 2.8 Investment funds – at FVTPL (Note 12.1) - 2.8 Interest and discount expense on lease liabilities 2.5 1.4 Loss from foreign currency exchange differences 2.6 1.0 Other expenses of financing activities 4.9 3.6 Total finance expenses 42.8 35.3 Finance activity, net (37.4) (29.4) 9 Income taxes 9.1 Amounts recognised in profit or loss EURm 6M 2026 6M 2025 Income tax expenses (benefit) 26.5 26.7 Deferred tax expenses (benefit) (4.6) (6.4) Global minimum top-up tax - (0.8) Total 21.9 19.5 9.2 Reconciliation of effective tax rate Income tax on the Group’s profit before tax differs from the theoretical amount that would arise using the tax rate applicable to the profit of the Group: EURm 6M 2026 6M 2026 6M 2025 6M 2025 Profit (loss) before tax 135.1 130.9 Income tax expenses (benefit) at applicable tax rate 17.00% 23.0 16.00% 20.9 Income tax expenses related to global minimum top-up tax - - (0.61%) (0.8) Effect of tax rates in foreign jurisdictions 1.18% 1.6 1.15% 1.5 Non-taxable income and non-deductible expenses 1.92% 2.6 1.15% 1.5 Income tax relief for the investment project (3.40%) (4.6) (4.89%) (6.4) Adjustments in respect of prior years (0.89%) (1.2) (0.38%) (0.5) Other 0.40% 0.5 2.49% 3.3 Income tax expenses (benefit) 16.21% 21.9 14.91% 19.5 Standard income tax rate of 17% was applicable to the companies in Lithuania (2025: 16%), in Poland – 19%, in Finland and Latvia – 20%, in Estonia – 22%. In Latvia and Estonia, income tax is applicable on the gross amount of the distribution. ‘Income tax relief for the investment project’ included the income tax relief for the investment projects in 2026 and the income tax relief from previous periods, for which the deferred tax assets were not recognised. 71 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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10 Other comprehensive income EURm Hedging reserve Other reserves Retained earnings Total Items that will not be reclassified to profit or loss in subsequent periods Result of change in actuarial assumptions - - (0.5) (0.5) Items that may be reclassified to profit or loss in subsequent periods Cash flow hedges – effective portion of change in fair value 3.8 - - 3.8 Cash flow hedges – reclassified to profit or loss (0.6) - - (0.6) Foreign operations – foreign currency translation differences - 2.1 - 2.1 Tax (0.5) (0.1) - (0.6) Total as at 30 June 2025 2.7 2.0 (0.5) 4.2 Items that will not be reclassified to profit or loss in subsequent periods Result of change in actuarial assumptions - - (0.3) (0.3) Items that may be reclassified to profit or loss in subsequent periods Cash flow hedges – effective portion of change in fair value 21.1 - - 21.1 Cash flow hedges – reclassified to profit or loss (6.2) - - (6.2) Foreign operations – foreign currency translation differences - (4.9) - (4.9) Tax (3.1) 0.2 - (2.9) Total as at 30 June 2026 11.8 (4.7) (0.3) 6.8 The total amount of taxes recognised in other comprehensive income in 6M 2026 includes EUR -0.1 million in income tax expenses and EUR -2.8 million in deferred tax expenses (EUR 0.1 million in income tax benefits and EUR -0.7 million in deferred tax expenses in 6M 2025). 11 Investments In 6M 2026, Investments amounted to EUR 306.1 million and were EUR 37.1 million (10.8%) lower compared to 6M 2025. The decrease was driven by lower Investments in the Green Capacities segment and was partially offset by higher Investments in the Networks segment. The Investments mainly comprise additions to property, plant and equipment (EUR 276.9 million) and intangible assets (EUR 11.6 million). For more detailed information on our Investments, see section ‘3.1 Results 6M’ of the First six months 2026 interim report. 12 Other financial assets EURm 30 June 2026 31 December 2025 Other non-current financial assets Investment funds – at FVTPL 27.2 26.1 Equity securities – at FVOCI 5.0 5.0 Other 4.5 0.2 Carrying amount 36.7 31.3 12.1 Movement of fair value in investment funds EURm 6M 2026 6M 2025 Carrying amount as at 1 January 26.1 30.1 Additional investments 1.1 2.7 Return from investments - (0.4) Change in fair value - (2.8) Carrying amount 27.2 29.6 12.2 Significant accounting estimates: Investment funds – at FVTPL The Group has invested into investment funds. The funds are managed by independent entities (managers), which are responsible for the investment decisions. Accordingly, in the Group management’s view, the Group does not have the power to manage the activities of the funds and does not have the control over them. As at 30 June 2026, the carrying value of the Smart Energy Fund amounted to EUR 12.7 million (31 December 2025: EUR 11.6 million) and the carrying value of the World Fund amounted to EUR 14.5 million (31 December 2025: EUR 14.5 million). The fair value of the funds was determined by reference to the exits of investments, new investment rounds or other recent events and data. The fair value of the funds corresponds to Level 3 in the fair value hierarchy (Note 21). 13 Trade receivables EURm 30 June 2026 31 December 2025 Amounts receivable under contracts with customers Receivables from electricity related sales 162.7 197.1 Receivables from gas related sales 43.1 64.9 Other trade receivables 11.2 18.5 Amounts receivable under other contracts 0.4 1.1 Total 217.4 281.6 Less: loss allowance (10.9) (9.4) Carrying amount 206.5 272.2 As at 30 June 2026 and 31 December 2025, the Group had not pledged the claim rights to trade receivables. No interest is charged on trade receivables, and the regular settlement period is between 15 and 30 days. Trade receivables for which the settlement period is more than 30 days comprise an insignificant part of the total trade receivables. The Group doesn’t provide a settlement period that is longer than 1 year. The Group didn’t identify any financing components. For terms and conditions on settlements between the related parties, see Note 20. 72 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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14 Equity 14.1 Share capital The Group’s share structure and shareholders were as follows: Shareholder of the Group 30 June 2026 31 December 2025 Share capital, in EURm % Share capital, in EURm % The Republic of Lithuania represented by the Ministry of Finance of the Republic of Lithuania 1,212.1 74.99 1,212.1 74.99 Other shareholders 404.3 25.01 404.3 25.01 Total 1,616.4 1,616.4 As at 30 June 2026 and 31 December 2025, the Group’s share capital amounted to EUR 1,616.4 million and was divided into 72,388,960 ordinary shares with a EUR 22.33 nominal value per share. 14.2 Dividends Dividends declared by the parent company during the 6M period: EURm 6M 2026 6M 2025 AB “Ignitis grupė” 49.4 48.0 Dividend declared per share: Declared on Period for which dividends are allocated Dividend per share, EUR Amount of dividend declared, EURm March 2026 H2 2025 0.683 49.4 Total declared during 6M 2026 0.683 49.4 March 2025 H2 2024 0.663 48.0 Total declared during 6M 2025 0.663 48.0 14.3 Earnings per share The Group’s earnings per share and diluted earnings per share were as follows: EURm 6M 2026 6M 2025 Net profit for the period 113.2 111.4 Attributable to: Shareholders in AB “Ignitis grupė” 113.5 111.4 Non-controlling interests (0.3) - Weighted average number of nominal shares (units) 72,388,960 72,388,960 Basic and diluted earnings/(loss) per share attributable to shareholders in AB “Ignitis grupė” (EUR) 1.57 1.54 Indicators of basic and diluted earnings per share have been calculated based on the weighted average number of ordinary shares as at 30 June 2026 of 72,388,960 (30 June 2025: 72,388,960). 15 Financing 15.1 Loans, bonds and lease liabilities EURm 30 June 2026 31 December 2025 Bonds issued 896.1 895.2 Bank loans 1,094.6 813.4 Bank overdrafts, credit line - 179.5 Lease liabilities 97.8 97.8 Total non-current 2,088.5 1,985.9 Current portion of non-current loans received 89.8 115.2 Bank overdrafts, credit line 0.1 88.4 Current portion of bonds issued 11.9 9.1 Lease liabilities 9.8 9.8 Total current 111.6 222.5 Total 2,200.1 2,208.4 Loans, bonds and lease liabilities by maturity: EURm 30 June 2026 31 December 2025 Up to 1 year 111.6 225.5 From 1 to 2 years 466.8 769.8 From 2 to 5 years 901.8 792.9 After 5 years 719.9 423.2 Total 2,200.1 2,208.4 Loans and lease liabilities of the Group are denominated in euros or Polish zlotys, bonds – in euros. 15.2 Net Debt Net Debt is a non-IFRS liquidity metric used to determine the value of debt against highly liquid assets owned by the Group. The management is monitoring the Net Debt metric as a part of its risk management strategy. Only the debts to financial institutions, issued bonds, related interest payables and lease liabilities are included in the Net Debt calculation. The management defines the Net Debt metric for the purposes of these financial statements in the manner presented below. Net Debt balances: EURm 30 June 2026 31 December 2025 Cash and cash equivalents (274.8) (296.3) Gross debt 2,200.1 2,208.4 Net Debt 1,925.3 1,912.1 73 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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15.2.1 Liquidity reserve The Group manages liquidity risks by entering in credit line and overdraft agreements with banks. As at 30 June 2026, there were five credit line and overdraft facilities available in three separate banks and two long-term loan agreements with unwithdrawn balances. All credit line, overdraft facilities and long-term loan contracts are committed. EURm 30 June 2026 31 December 2025 Total credit line and overdraft limit 600.0 841.9 Disbursed amount - 512.6 Unwithdrawn credit line and overdraft balances 666.0 182.5 Credit line agreements 270.0 120.0 Overdraft agreements 330.0 62.5 Unwithdrawn balances of loan contracts 164.0 146.8 Total unwithdrawn balances 764.0 329.3 Cash balances in bank accounts 238.7 273.1 Cash and cash equivalents 274.8 296.3 Restricted cash (36.1) (23.2) Total liquidity reserve 1,002.7 602.4 15.2.2 Reconciliation of the Group’s Net Debt balances to cash flows from financing activities Loans and bonds Lease liabilities Assets EURm Non- current Current Non- current Current Cash and cash equivalents Total Net Debt at 1 January 2026 1,888.1 212.7 97.8 9.8 (296.3) 1,912.1 Cash changes (Increase) decrease in cash and cash equivalents - - - - 21.5 21.5 Proceeds from loans 551.0 - - - - 551.0 Repayments of loans (259.7) (32.0) - - - (291.7) Lease payments - - - (6.1) - (6.1) Interest paid - (26.2) - (2.4) - (28.6) Overdrafts net change (179.5) (87.9) - - - (267.4) Capitalised transaction costs (4.1) - - - - (4.1) Non-cash changes Lease contracts concluded - - 3.5 0.6 - 4.1 Accrual of interest payable 1.2 30.3 - 2.6 - 34.1 Remeasurement of lease liabilities - - 2.4 0.1 - 2.5 Reclassifications between items (4.9) 4.9 (4.9) 4.9 - - Other non-monetary changes (0.5) - (0.8) 0.5 - (0.8) Change in foreign currency (0.9) - (0.2) - - (1.1) Net Debt at 30 June 2026 1,990.7 101.8 97.8 9.8 (274.8) 1,925.3 16 Provisions The movement of the Group’s provisions was as follows: EURm Emis- sion allow- ance Employee benefits Servi- tudes Regulatory difference of isolated power system operations and system services Dismant- ling Other Total Balance as at 1 January 2026 37.7 8.2 0.5 141.5 26.2 6.6 220.7 New provisions that were not calculated before - - - - 0.2 4.1 4.3 Increase (decrease) during the period 11.2 0.4 - 13.4 - 1.2 26.2 Utilised during the period (37.7) (0.1) - (13.9) - (0.2) (51.9) Result of change in assumptions (0.6) 0.3 - 0.8 - - 0.5 Discount effect - 0.1 - (3.0) 0.7 - (2.2) Reclassification from other categories - - - - 2.3 - 2.3 Foreign currency exchange difference - - - - - (0.1) (0.1) Balance as at 30 June 2026 10.6 8.9 0.5 138.8 29.4 11.6 199.8 Non-current - 6.7 0.5 72.0 29.4 4.1 112.7 Current 10.6 2.2 - 66.8 - 7.5 87.1 The total change in the provisions in 6M 2026 was EUR -20.9 million, whereof EUR -21.4 million was recognised in the Statement of profit or loss, EUR 0.3 million in the Statement of comprehensive income, and EUR 0.2 million was capitalised to ‘Right-of-use assets’ in the Statement of financial position. 74 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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17 Derivatives The Group’s derivative financial instruments are related to electricity and natural gas commodities and comprise: − contracts made directly with other parties over the counter (OTC); − contracts made through the Nasdaq Commodities market; − other contracts. The fair value of Nasdaq contracts is being settled with cash on a day-to-day basis. Accordingly, no financial assets or liabilities are being recognised in the Statement of financial position. Gain or loss of such transactions is recognised in the same way as for all derivative financial instruments. 17.1 Derivative financial instruments included in the Statement of financial position EURm 30 June 2026 31 December 2025 Other non-current assets 16.1 14.4 Other current assets 11.1 3.1 Other non-current liabilities (0.1) (1.0) Other current liabilities (3.4) (3.9) Carrying amount 23.7 12.6 The movement of derivative financial instruments was as follows: EURm 6M 2026 6M 2025 Carrying amount as at 1 January 12.6 (3.2) Fair value change of OTC ineffectiveness (0.4) 0.6 Unrealised gain (loss) of OTC and other financial instruments ineffectiveness (0.4) 0.6 Unrealised gain (loss) of Nasdaq ineffectiveness 1.2 (1.5) Total Unrealised gain (loss) 0.8 0.9 Fair value change of OTC effectiveness 11.5 2.3 Fair value change of Nasdaq effectiveness 3.1 0.9 Unrealised gain (loss) in ‘Other comprehensive income’ 14.6 3.2 Fair value change of Nasdaq set off with cash (4.3) 0.6 Carrying amount at 30 June 23.7 (0.3) 17.2 Derivatives included in the Statement of profit or loss EURm 6M 2026 6M 2025 Realised gain (loss) from OTC and Nasdaq 0.5 1.3 Unrealised gain (loss) 0.8 (0.1) Total in profit or loss – ineffective energy hedging result 1.3 1.2 Cash flow hedges – reclassified to profit or loss from OCI 6.2 0.6 Total in profit or loss – effective energy hedging result 6.2 0.6 Total recognised in ‘Statement of profit or loss’ 7.5 1.8 18 Composition of the Group 18.1 Group’s structure The Group’s structure is provided in section ‘7.4 Information on Group companies’ of our Integrated Annual Report 2025 and on our website. 18.2 Changes in the composition 18.2.1 Transactions with non-controlling interest in 6M 2026 On 25 February 2026, the parent company entered into a sale and purchase agreement for the sale of a 49% shareholding in UAB Vilniaus kogeneracinė jėgainė. The transaction was completed on 30 March 2026. Following the transaction, the parent company retains a 51% interest in UAB Vilniaus kogeneracinė jėgainė. Based on the management’s assessment, the Group continues to meet all three control criteria in accordance with IFRS 10 and, therefore, continues to control the company. Accordingly, the company continues to be fully consolidated in the Group’s financial statements. As the Group retains control of the subsidiary, the transaction is accounted for as an equity transaction at the Group level. Accordingly, it does not impact the Group’s net profit and is reflected only in the standalone financial results of the parent company. 18.2.2 Establishment of new subsidiaries In April 2026, AB “Ignitis grupė” established a new subsidiary: UAB “Ignitis Data Center Solutions”. In May 2026, Ignitis RES DEV Sp. z o. o. and Ignitis Renewables Polska Sp. z o. o. established a new subsidiary: BESS SKARBIMIERZ sp. z o.o.. In May 2026, UAB “Ignitis Data Center Solutions” established a new subsidiary: UAB “Datum MidCo”. In May 2026, UAB “Datum MidCo” established a new subsidiary: UAB “DC SPV 2”. In June 2026, UAB “Datum MidCo” established three new subsidiaries: UAB “Kruonis DC”, UAB “Elektrėnai DC” and UAB “DC SPV 1”. 18.2.3 Contingent consideration for acquisition of subsidiaries The contingent consideration for the acquisition of subsidiaries is presented in the statement of financial position as follows: EURm 30 June 2026 31 December 2025 Other non-current liabilities Other current liabilities Other non-current liabilities Other current liabilities Contingent consideration for acquisition of subsidiaries 7.9 7.5 7.9 16.6 75 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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19 Contingent liabilities and commitments 19.1 Litigations The most significant litigations as at 30 June 2026: Litigation Is the Group or the Group company a party to the process? Is the Group or the Group company a party as defendant or plaintiff in the process? Provision recognised in the Statement of financial position? Litigation concerning the designated supplier state aid scheme and LNG price component No - No Investigation by the European Commission on State aid in the context of a strategic reserve measure No - No Litigation with UAB Kauno termofikacijos elektrinė Yes Plaintiff No Litigation with UAB “Pamario jėgainių energija” Yes Defendant No Most significant litigation s disclosed in the table above were the same as disclosed in the annual financial statements for the year ended 31 December 2025, except the changes during the 6M 2026 period mentioned below: 19.1.1 The state-aid scheme for the designated supplier to Klaipėda LNG terminal was cleared by the European Commission Following an in‑depth investigation reopened after a 2021 General Court judgment, the European Commission decided on 7 April 2026 (case SA.44678) that compensation related to natural gas boil‑off and balancing costs paid to UAB “Ignitis” (formerly UAB LITGAS) for 2016–2018 complies with EU State aid rules under the SGEI Framework and requires no repayment. The decision may be appealed to the General Court within two months of publication. 19.1.2 Litigation with UAB Kauno termofikacijos elektrinė Proceedings initiated by the Group and reported in prior periods remain outstanding. No asset has been recognised in respect of these proceedings and, based on management's assessment, any recovery would not be material to the Group's financial position or financial performance. 19.1.3 Litigation with UAB “Pamario jėgainių energija” The case is being heard at first instance. Court hearings have been scheduled for 22 September 2026. 20 Related-party transactions Related parties Loans receivable 30 June 2026 Accounts receivable 30 June 2026 Accounts payable 30 June 2026 Sales 6M 2026 Purchases 6M 2026 Finance income (expenses) 6M 2026 LITGRID AB - 22.0 34.1 94.9 162.2 - AB “Amber Grid” - 3.8 0.5 4.7 6.7 - BALTPOOL UAB - 0.3 - (0.1)1 (2.7)1 - UAB GET Baltic - - - - - - Associates and other related parties 6.3 1.9 4.5 12.1 14.5 0.2 Total 6.3 28.0 39.1 111.6 180.7 0.2 1Negative sales and purchases in 6M 2026 with BALTPOOL UAB are related to invoices issued for PSO services. PSO services are calculated as the difference between the fixed tariff set by NERC and the weighted average price of electricity sold in the power exchange. If the fixed tariff set by NERC is negative, it can cause invoices with negative prices to be issued for the services Related parties Loans receivable 31 December 2025 Accounts receivable 31 December 2025 Accounts payable 31 December 2025 Sales 6M 2025 Purchases 6M 2025 Finance income (expenses) 6M 2025 LITGRID AB - 11.6 42.9 204.7 134.9 - AB “Amber Grid” - 4.4 2.0 3.9 6.9 - BALTPOOL UAB - 0.6 - 5.4 0.3 - UAB GET Baltic - - - 22.1 85.5 - Associates and other related parties 4.5 2.5 6.3 10.1 14.2 - Total 4.5 19.1 51.2 246.2 241.8 - 20.1 Compensation to key management personnel EURm 6M 2026 6M 2025 Wages and salaries and other short-term benefits to key management personnel 1.4 0.9 Whereof: Short-term benefits: wages, salaries and other 1.0 0.8 Termination benefits 0.2 - Long-term benefits 0.2 0.1 Number of key management personnel 14 12 In 6M 2026 and 6M 2025, members of the Management Board (incl. CEO) and the Supervisory Board were considered to be the Group’s key management personnel. For more information on the key management personnel, see section ‘4 Governance report’ of the Integrated Annual Report 2025. 76 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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21 Fair values of financial instruments 21.1 Financial instruments for which fair value is disclosed The carrying amount of the Group’s financial assets and financial liabilities is measured at an amortised cost approximated to their fair value, excluding issued bonds and loans received from commercial, state-owned banks. The measurement of the financial instruments related to the issued bonds and loans received is attributed to Level 2 of the fair value hierarchy. The fair value of the Group’s issued bonds was calculated by discounting the future cash flows related to the coupon payments with reference to the interest rate observable in the market and the regular future payments related to the bonds issued. The cash flows were discounted using a weighted average discount rate of 3.11% as at 30 June 2026 (31 December 2025: 3.14%). The discount rates for each issued bond were determined as certain bond yields. The measurement of the fair value of issued bonds is attributed to Level 2 in the fair value hierarchy. The fair value of the Group’s loans received was calculated by discounting the cash flows with a market interest rate applied for a similar-period bond. The cash flows were discounted using a weighted average discount rate of 3.11% as at 30 June 2026 (31 December 2025: 3.14%). The measurement of the fair value of loans received is attributed to Level 2 in the fair value hierarchy. 21.2 Financial instruments’ fair value hierarchy levels The table below presents allocation between the fair value hierarchy levels of the Group’s financial instruments as at 30 June 2026: Level 1 Level 2 Level 3 EURm Note Carrying amount Quoted prices in active markets Other directly or indirectly observable inputs Unobser- vable inputs Total Financial instruments measured at FVTPL or FVOCI Assets Derivatives 17 27.2 - 27.2 - 27.2 Investment funds – at FVTPL 12 27.2 - - 27.2 27.2 Equity securities – at FVOCI 12 5.0 - - 5.0 5.0 Contingent receivable for sale of subsidiaries 4.3 - - 4.3 4.3 Liabilities Put option redemption liability 38.0 - - 38.0 38.0 Derivatives 17 3.5 - 3.5 - 3.5 Contingent consideration for acquisition of subsidiaries 15.4 - - 15.4 15.4 Financial instruments for which fair value is disclosed Assets Loans granted 77.5 - - 78.9 78.9 Liabilities Bonds issued 15.1 908.0 - 888.0 - 888.0 Loans received 1 184.4 - 1 131.3 - 1 131.3 The table below presents the allocation between the fair value hierarchy levels of the Group’s financial instruments as at 31 December 2025: Level 1 Level 2 Level 3 EURm Note Carrying amount Quoted prices in active markets Other directly or indirectly observable inputs Unobser- vable inputs Total Financial instruments measured at FVTPL or FVOCI Assets Derivatives 17 17.5 - 17.5 - 17.5 Investment funds – at FVTPL 12 26.1 - - 26.1 26.1 Equity securities – at FVOCI 12 5.0 - - 5.0 5.0 Liabilities Put option redemption liability 38.0 - - 38.0 38.0 Derivatives 17 4.9 - 4.9 - 4.9 Contingent consideration for acquisition of subsidiaries 24.5 - - 24.5 24.5 Financial instruments for which fair value is disclosed Assets Loans granted 72.5 - - 73.8 73.8 Liabilities Bonds issued 15.1 904.3 - 878.9 - 878.9 Loans received 1 196.4 - 1 169.9 - 1 169.9 22 Events after the reporting period There were no significant events after the reporting period till the issue of these financial statements. *** 77 / 90 First six months 2026 interim report / Consolidated financial statements Verified by MarkSign.lt
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78 / 90 First six months 2026 interim report / Parent company's financial statements Parent company’s financial statements 7.1 Interim condensed statement of profit or loss and other comprehensive income 79 7.2 Interim condensed statement of financial position 80 7.3 Interim condensed statement of changes in equity 81 7.4 Interim condensed statement of cash flows 82 7.5 Notes 83 Unaudited interim condensed parent company’s financial statements for the six-month period ended 30 June 2026, prepared in accordance with International accounting standard 34 'Interim financial reporting' as adopted by the European Union. Verified by MarkSign.lt
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7.1 Interim condensed statement of profit or loss and other comprehensive income For the six-month period ended 30 June 2026 EURm Note 6M 2026 6M 2025 Q2 2026 Q2 2025 Revenue from contracts with customers 5 2.5 2.4 1.2 1.2 Dividend income 243.8 201.6 43.7 171.6 Total revenue 246.3 204.0 44.9 172.8 Salaries and related expenses (3.9) (3.1) (1.9) (1.6) Depreciation and amortisation (1.5) (1.6) (0.7) (0.8) Other expenses (14.0) (5.4) (6.7) (2.6) Total expenses (19.4) (10.1) (9.3) (5.0) Operating profit 226.9 193.9 35.6 167.8 Finance income 7 129.1 41.2 21.9 20.9 Finance expenses 7 (20.3) (22.0) (9.1) (12.0) Finance activity, net 108.8 19.2 12.8 8.9 Profit (loss) before tax 335.6 213.1 48.4 176.7 Income tax (expenses)/benefit (1.7) (1.5) (1.2) - Net profit for the period 333.9 211.6 47.2 176.7 Total other comprehensive income (loss) for the period - - - - Total comprehensive income (loss) for the period 333.9 211.6 47.2 176.7 First six months 2026 interim report / Parent company's financial statements 79 / 90 Verified by MarkSign.lt
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7.2 Interim condensed statement of financial position As at 30 June 2026 EURm Note 30 June 2026 31 December 2025 30 June 2025 Assets Intangible assets 1.6 1.6 1.6 Right-of-use assets 15.2 16.3 18.0 Investment property 0.1 0.1 0.1 Investments in subsidiaries 8 1,437.1 1,462.8 1,407.4 Non-current receivables 10 1,900.2 2,047.8 1,964.7 Other financial assets 9 31.5 26.1 29.6 Deferred tax assets 0.8 0.9 0.7 Non-current assets 3,386.5 3,555.6 3,422.1 Prepayments and deferred expenses 0.3 0.3 0.2 Trade receivables 5 0.5 0.8 0.5 Other financial assets 701.6 576.4 - Other current assets 3.5 3.4 3.5 Prepaid income tax 0.3 - - Other receivables - - 503.2 Cash and cash equivalents 31.6 1.5 1.3 Current assets 737.8 582.4 508.7 Total assets 4,124.3 4,138.0 3,930.8 Equity and liabilities Share capital 1,616.4 1,616.4 1,616.4 Reserves 140.0 128.9 129.0 Retained earnings 882.0 608.6 648.0 Equity 2,638.4 2,353.9 2,393.4 Non-current loans and bonds 12.4 1,270.7 1,499.3 1,167.7 Non-current lease liabilities 12.4 12.9 14.0 15.6 Non-current liabilities 1,283.6 1,513.3 1,183.3 Loans 12.4 185.7 254.3 339.8 Lease liabilities 12.4 2.9 2.9 3.0 Trade payables 1.1 1.8 1.2 Income tax payable - 3.5 2.3 Other current liabilities 12.6 8.3 7.8 Current liabilities 202.3 270.8 354.1 Total liabilities 1,485.9 1,784.1 1,537.4 Total equity and liabilities 4,124.3 4,138.0 3,930.8 First six months 2026 interim report / Parent company's financial statements 80 / 90 Verified by MarkSign.lt
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7.3 Interim condensed statement of changes in equity For the six-month period ended 30 June 2026 EURm Note Share capital Legal reserve Retained earnings Total Balance as at 1 January 2025 1,616.4 117.8 495.6 2,229.8 Net profit for the period - - 211.6 211.6 Other comprehensive income (loss) for the period - - - - Total comprehensive income (loss) for the period - - 211.6 211.6 Transfers to legal reserve - 11.2 (11.2) - Dividends 6 - - 48.0 (48.0) Balance as at 30 June 2025 1,616.4 129.0 648.0 2,393.4 Balance as at 1 January 2026 1,616.4 128.9 608.6 2,353.9 Net profit for the period - - 333.9 333.9 Other comprehensive income (loss) for the period - - - - Total comprehensive income (loss) for the period - - 333.9 333.9 Transfers to legal reserve - 11.1 (11.1) - Dividends 6 - - (49.4) (49.4) Balance as at 30 June 2026 1,616.4 140.0 882.0 2,638.4 First six months 2026 interim report / Parent company's financial statements 81 / 90 Verified by MarkSign.lt
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7.4 Interim condensed statement of cash flows For the six-month period ended 30 June 2026 EURm Note 6M 2026 6M 2025 Net profit for the period 333.9 211.6 Adjustments for: Depreciation and amortisation expenses 1.5 1.6 Fair value changes of financial assets 7 - 2.8 Loss/(gain) on disposal of investments in subsidiaries (85.0) - Income tax expenses/(benefit) 1.7 1.4 Interest income 7 (44.1) (41.2) Interest expenses 7 19.7 18.4 Dividend income (243.8) (201.6) Other expenses/(income) of financing activities 7 0.6 0.8 Changes in working capital: (Increase)/decrease in trade receivables, other receivables and other financial assets (0.4) 3.7 Increase/(decrease) in trade payables and other current liabilities (5.3) (12.1) Income tax (paid)/received (1.2) (0.4) Net cash flows from operating activities (22.4) (15.0) Disposal of subsidiaries, net of transaction costs 106.3 - Loans granted (303.1) (165.0) Loan repayments received 500.7 119.8 Interest received 23.8 18.7 Dividends received 243.8 201.6 (Investments in)/return from investment funds (1.1) (2.3) Net cash flows from investing activities 570.4 172.8 Repayments of loans 12.4 (398.2) (120.8) Loans received 213.5 - Overdrafts net change 12.4 (267.4) 27.9 Lease payments 12.4 (1.5) (1.5) Dividends paid 6 (49.4) (48.0) Interest paid 12.4 (14.9) (15.3) Net cash flows from financing activities (517.9) (157.7) Increase/(decrease) in cash and cash equivalents 30.1 0.1 Cash and cash equivalents at the beginning of the period 1.5 1.2 Cash and cash equivalents at the end of the period 31.6 1.3 First six months 2026 interim report / Parent company's financial statements 82 / 90 Verified by MarkSign.lt
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7.5 Notes For the six-month period ended 30 June 2026 1 General information AB “Ignitis grupė” (the parent company) is a public limited liability company registered in the Republic of Lithuania. The parent company’s registered office address is Laisvės Ave. 10, LT-04215, Vilnius, Lithuania. The parent company was registered on 28 August 2008 with the Register of Legal Entities managed by the State Enterprise Centre of Registers. The parent company’s code is 301844044. The parent company has been founded for an indefinite period. AB “Ignitis grupė” is a parent company, which is responsible for the management and coordination of activities of the group of companies it controls directly and the group of companies it controls indirectly through its subsidiaries. The parent company and its directly and indirectly controlled companies are hereinafter collectively referred to as ‘the Group’. The Group’s core business is focused on managing and developing its green generation and green flexibility capacities (Green Capacities) and operating Lithuania’s electricity distribution network (Networks). The Group also manages strategically important reserve capacities (Reserve Capacities) and provide services to its customers (Customers & Solutions), including the supply, trading of electricity and natural gas, and developing EV charging network for private (B2C) and business (B2B) customers. The parent company analyses the activities of the Group companies, represents the whole Group, implements its shareholders’ rights and obligations, defines operation guidelines and rules, and coordinates the activities in the fields of finance, law, strategy and development, human resources, risk management, audit, technology, communication, etc. The parent company seeks to ensure effective operation of the Group companies, implementation of goals set forth in the National Energy Independence Strategy and other legal acts that are related to the Group’s activities, ensuring that it creates sustainable value in a socially responsible manner. These are interim condensed financial statements of the parent company. The Group also prepares interim condensed consolidated financial statements in accordance with International Accounting Standard (IAS) 34 ‘Interim Financial Reporting’. 2 Basis of preparation 2.1 Basis of accounting These interim condensed financial statements have been prepared for the six-month period ended 30 June 2026 (interim financial statements) in accordance with IAS 34. These interim financial statements do not provide all the information required for the preparation of annual financial statements, therefore they must be read in conjunction with the parent company’s annual financial statements for the year ended 31 December 2025, which have been prepared in accordance with IFRS Accounting Standards (IFRS), which were issued by the International Accounting Standards Board (hereinafter referred to as ‘IASB’) and endorsed for application in the European Union. Interim financial statements have been prepared on a going concern basis while applying measurements based on historical costs (acquisition costs), except for certain financial instruments measured at fair value. 2.2 Functional and presentation currency These interim financial statements are presented in euros, which is the parent company’s functional currency, and all values are rounded to the nearest million (EURm), except when indicated otherwise. The interim financial statements provide comparative information in respect of the previous period. 3 Changes in material accounting policies The accounting policies applied during the preparation of these interim financial statements are consistent with the accounting policies applied during the preparation of the parent company’s annual financial statements for the year ended 31 December 2025, with the exception for the adoption of new standards effective as of 1 January 2026. The parent company has not applied any standard, interpretation, or amendment for which the early application is permitted but is not yet effective. 4 Significant accounting estimates and judgments used in the preparation of the financial statements While preparing these interim financial statements, the significant management judgements regarding the application of the accounting policies and accounting estimates were the same as the ones used while preparing the annual financial statements for the year ended 31 December 2025. First six months 2026 interim report / Parent company's financial statements 83 / 90 Verified by MarkSign.lt
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5 Revenue from contracts with customers EURm 6M 2026 6M 2025 Management fee revenue 2.5 2.4 Total 2.5 2.4 The parent company’s revenue from contracts with customers during the 6M 2026 and the 6M 2025 periods mainly comprised revenue from advisory and management services provided to subsidiaries. The parent company did not present any segment-related information as there is only one segment. All performance obligations of the parent company are settled over time. The parent company’s balances under the contracts with customers: EURm 30 June 2026 31 December 2025 Trade receivables 0.5 0.8 6 Dividends Dividends declared by the parent company: EURm 6M 2026 6M 2025 AB “Ignitis grupė” 49.4 48.0 Dividends declared per share: Declared on Period for which dividends are allocated Dividend per share, EUR Amount of dividend declared, EURm March 2026 H2 2025 0.683 49.4 Total declared during 6M 2026 0.683 49.4 March 2025 H2 2024 0.663 48.0 Total declared during 6M 2025 0.663 48.0 7 Finance activity EURm 6M 2026 6M 2025 Interest income at the effective interest rate 44.1 41.2 Gain/(Loss) on disposal of an investment1 85.0 - Total finance income 129.1 41.2 Interest expenses 19.5 18.2 Investment funds – at FVTPL - 2.8 Interest and discount expense on lease liabilities 0.2 0.2 Other expenses of financing activities 0.6 0.8 Total finance expenses 20.3 22.0 Finance activity, net 108.7 19.2 1 The sale of UAB Vilniaus kogeneracinė jėgainė 49% of shares. (note 8.1) The parent company earns interest income from long-term and short-term loans, the majority of which is granted to the Group companies. The parent company incurs interest expenses on long-term and short-term loans payable and issued bonds. 8 Investments in subsidiaries Information on the parent company’s investments in subsidiaries as at 30 June 2026 is provided below: EURm Acquisition cost Impair ment Carrying amount Parent company’s ownership interest, % Group's effective ownership interest, % Subsidiaries: AB “Energijos skirstymo operatorius” 750.4 - 750.4 100.00 100.00 UAB “Ignitis renewables” 251.8 - 251.8 100.00 100.00 AB “Ignitis gamyba” 223.3 - 223.3 100.00 100.00 UAB “Ignitis” 142.1 - 142.1 100.00 100.00 UAB Vilniaus kogeneracinė jėgainė 26.6 - 26.6 51.00 51.00 UAB Kauno kogeneracinė jėgainė 20.4 - 20.4 51.00 51.00 UAB “Ignitis grupės paslaugų centras” 12.9 - 12.9 100.00 100.00 UAB “Gamybos optimizavimas” 5.7 - 5.7 100.00 100.00 UAB “Transporto valdymas” 2.4 - 2.4 100.00 100.00 UAB Elektroninių mokėjimų agentūra 1.5 - 1.5 100.00 100.00 UAB "Ignitis Data Center Solutions" 0.0 - 0.0 100.00 100.00 1,437.1 - 1,437.1 8.1 Partial disposal of investment in a subsidiary On 25 February 2026, the parent company entered into a sale and purchase agreement for the sale of a 49% shareholding in UAB Vilniaus kogeneracinė jėgainė. The transaction was completed on 30 March 2026. Following the transaction, the parent company retains a 51% interest in UAB Vilniaus kogeneracinė jėgainė. In the parent company’s standalone financial statements, the gain arising from the disposal of a 49% shareholding in UAB Vilniaus kogeneracinė jėgainė is recognised in finance income. 8.2 Establishment of new subsidiaries In April 2026, the parent company established a new subsidiary: UAB “Ignitis Data Center Solutions”. There was no other movement in investments in subsidiaries during 6M 2026. First six months 2026 interim report / Parent company's financial statements 84 / 90 Verified by MarkSign.lt
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9 Other financial assets EURm 30 June 2026 31 December 2025 Other non-current financial assets Investment funds – at FVTPL 27.2 26.1 Other financial assets 4.3 - Carrying amount 31.5 26.1 9.1 Movement of fair value in investment funds EURm 6M 2025 6M 2025 Carrying amount as at 1 January 26.1 30.1 Additional investments 1.1 2.7 Return from investments - (0.4) Change in fair value - (2.8) Carrying amount as at 30 June 27.2 29.6 9.2 Significant accounting estimates: Investment funds – at FVTPL The parent company has invested into investment funds. The funds are managed by independent entities (managers), which are responsible for the investment decisions. Accordingly, in the parent company management’s view, the parent company does not have the power to manage the activities of the funds and does not have the control over them. As at 30 June 2026, the carrying value of the Smart Energy Fund amounted to EUR 12.7 million (31 December 2025: EUR 11.6 million) and the carrying value of the World Fund amounted to EUR 14.5 million (31 December 2025: EUR 14.5 million). The fair value of the funds was determined by reference to the exits of investments, new investment rounds or other recent events and data (Note 15). The fair value of the funds corresponds to Level 3 in the fair value hierarchy. 10 R eceivables EURm 30 June 2026 31 December 2025 Loans granted 1,900.2 2,047.8 Total non-current 1,900.2 2,047.8 Cash-pool loans 86.8 377.5 Current loans 442.5 137.6 Current portion of non-current loans 171.5 61.3 Total current 700.8 576.4 Less loss allowance - - Carrying amount 2,601.0 2,624.2 10.1 Expected credit losses of loans granted and other non-current receivables As at 30 June 2026, the parent company assessed whether credit risk of recipients of non-current and current loans has increased significantly and did not identify any indications and has no information indicating that the credit risk of loan recipients on an individual basis has increased significantly. Therefore, no lifetime expected credit loss was recognised for non-current and current loans granted (Note 10.2). 10.2 Loans granted The parent company’s loans granted comprised the loans granted to subsidiaries. EURm 30 June 2026 31 December 2025 Within one year 700.8 576.4 From 1 to 2 years 344.8 202.8 From 2 to 5 years 1,235.6 1,411.3 After 5 years 319.8 433,7 Carrying amount 2,601.0 2,624.2 First six months 2026 interim report / Parent company's financial statements 85 / 90 Verified by MarkSign.lt
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11 Equity and reserves 11.1 Capital management For the purpose of capital management, the management uses equity as reported in the Statement of financial position. Pursuant to the Republic of Lithuania Law on Companies, the issued capital of a public limited liability company must be not lower than EUR 25 thousand and the shareholders’ equity must be not lower than 50% of the company’s issued capital. As at 30 June 2026 and 31 December 2025, the parent company has met the requirements of capital regulation. 11.2 Share capital Shareholders of the parent company 30 June 2026 31 December 2025 Share capital, in EURm % Share capital, in EURm % The Republic of Lithuania represented by the Ministry of Finance of the Republic of Lithuania 1,212.1 74.99 1,212.2 74.99 Other shareholders 404.3 25.01 404.2 25.01 1,616.4 1,616.4 As at 30 June 2026 and 31 December 2025, the parent company’s share capital comprised EUR 1,616.4 million and was divided into 72,388,960 ordinary registered shares with a EUR 22.33 nominal value per share. 11.3 Legal reserve The legal reserve is a compulsory reserve under the Lithuanian legislation. Companies in Lithuania are required to transfer at least 5% of their net profit from the distributable profit until the total reserve reaches 10% of the issued capital. The legal reserve shall not be used for the payment of dividends and is formed to cover the future losses only. The parent company’s legal reserve as at 30 June 2026 and 31 December 2025 was not fully formed. 12 Financing 12.1 Loans, bonds and lease liabilities EURm 30 June 2026 31 December 2025 Bonds issued 896.1 895.2 Bank loans 374.6 424.6 Bank overdrafts - 179.5 Lease liabilities 12.9 14.0 Total non-current 1,283.6 1,513.3 Current portion of non-current loans 20.5 17.5 Current loans 165.2 148.8 Bank overdrafts - 88.0 Lease liabilities 2.9 2.9 Total current 188.6 257.2 Total 1,472.2 1,770.5 Loans, bonds and lease liabilities by maturity: EURm 30 June 2026 31 December 2025 Up to 1 year 188.6 257.2 From 1 to 2 years 397.8 725.8 From 2 to 5 years 681.0 666.3 After 5 years 204.8 121.2 Total 1,472.2 1,770.5 Loans, bonds and lease liabilities are denominated in euros. 12.2 Covenants The loan agreements include financial and non-financial covenants that the parent company is required to comply with. The parent company complied with the covenants as at 30 June 2026 and 31 December 2025. 12.3 Net Debt Net Debt is a non-IFRS liquidity metric used to determine the value of debt against highly liquid assets owned by the parent company. Only debts to financial institutions, issued bonds and related interest payables and lease liabilities are included in the Net Debt calculation. The management defines the Net Debt metric for the purposes of these financial statements in the manner presented below. Net Debt balances: EURm 30 June 2026 31 December 2025 Cash and cash equivalents (31.6) (1.5) Non-current portion 1,283.6 1,513.3 Current portion 188.6 257.2 Net Debt 1,440.6 1,769.0 First six months 2026 interim report / Parent company's financial statements 86 / 90 Verified by MarkSign.lt
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12.4 Reconciliation of the parent company’s Net Debt balances to cash flows from financing activities Loans and bonds Lease liabilities Assets EURm Non- current Current Non- current Current Cash and cash equivalents Total Net Debt as at 1 January 2026 1,499.3 254.3 14.0 2.9 (1.5) 1,769.0 Cash changes (Increase) decrease in cash and cash equivalents - - - - (30.1) (30.1) Proceeds from loans 213.5 - - - - 213.5 Repayments of loans (250.0) (148.8) - - - (398.2) Overdrafts net change (179.5) (87.9) - - - (267.4) Lease payments - - - (1.5) - (1.5) Interest paid - (14.7) - (0.2) - (14.9) Non-cash changes Loan contracts concluded - 150.0 - - - 150.0 Lease contracts concluded - - 0.1 0.3 - 0.4 Accrual of interest payable 1.0 18.6 - 0.2 - 19.8 Reclassifications between items (13.6) 13.6 (1.2) 1.2 - - Net Debt as at 30 June 2026 1,270.7 185.7 12.9 2.9 (31.6) 1,440.6 13 Contingent liabilities and commitments 13.1 Issued guarantees As at 30 June 2026, the parent company did not have issued guarantees in respect of the loans received by subsidiaries. Other guarantees provided by the parent company are the following: Beneficiary of the guarantee Maximum amount of the guarantee 30 June 20261 31 December 2025 Banks 116.1 116.1 153.6 Other companies 530.2 24.2 30.2 Total 646.3 140.3 183.8 1 The amount which should be covered by the parent company in case an entity could not perform its obligations. 14 Related-party transaction The balance of the parent company’s transactions with related parties during the period and at the end of the period are presented below: Related parties, EURm Loans receivable 30 June 2026 Accounts receivable 30 June 2026 Accounts payable 30 June 2026 Sales 6M 2026 Purchases 6M 2026 Finance income 6M 2026 Subsidiaries 2,600.8 0.5 4.9 2.5 3.5 44.0 Total 2,600.8 0.5 4.9 2.5 3.5 44.0 Related parties, EURm Loans receivable 31 December 2025 Accounts receivable 31 December 2025 Accounts payable 31 December 2025 Sales 6M 2025 Purchases 6M 2025 Finance income 6M 2025 Subsidiaries 2,624.0 0.6 1.4 2.4 3.8 41.6 Total 2,624.0 0.6 1.4 2.4 3.8 41.6 The parent company’s dividend income received from subsidiaries in 6M 2026 of EUR 243.8 million (6M 2025: EUR 201.6 million) is presented as 'Dividend income' in the Statement of profit or loss. 14.1 Compensation to key management personnel EURm 6M 2025 6M 2025 Remuneration, salary and other short-term benefits for key management personnel 1.4 0.9 Whereof: Short-term benefits – wages, salaries and other 1.0 0.8 Termination benefits 0.2 - Other long-term benefits 0.2 0.1 Number of key management personnel 14 12 In 6M 2025 and 6M 2025, members of the Management Board (incl. CEO) and Supervisory Board were considered as the parent company’s key management personnel. For more information on the key management personnel, see ‘4 Governance report’ in our Integrated Annual Report 2025. 15 Fair values of financial instruments 15.1 Financial instruments, measured at fair value As at 30 June 2026 and 31 December 2025, the parent company has accounted for investments funds measured at FVTPL (Note 9). The fair value measurement of these financial assets is based on investment rounds. The fair value of these financial assets will change depending on the exits of investments, future investment rounds or other significant events. Their fair value corresponds to Level 3 of the fair value hierarchy. First six months 2026 interim report / Parent company's financial statements 87 / 90 Verified by MarkSign.lt
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15.2 Financial instruments for which fair value is disclosed The carrying amount of the parent company’s financial assets and financial liabilities measured at an amortised cost approximates to their fair value, except the bonds issued, loans received and the loans granted. The measurement of the financial instruments related to the bonds issued, the loans received and the loans granted is attributed to Level 2 of the fair value hierarchy. The fair value of loans granted to other Group companies was calculated by discounting the cash flows with a market interest rate applied for a similar-period bond. The cash flows were discounted using a weighted average discount rate of 3.11% as at 30 June 2026 (31 December 2025: 3.14%). The measurement of the financial instruments related to the loans granted is attributed to Level 2 of the fair value hierarchy. The fair value of the parent company’s bonds issued was calculated by discounting the future cash flows related to the coupon payments with reference to the interest rate observable in the market and the regular future payments related to the bonds issued. The cash flows were discounted using a weighted average discount rate of 3.11% as at 30 June 2026 (31 December 2025: 3.14%). The discount rates for each bond issued were determined as certain bond yields. The measurement of the fair value of bonds issued is attributed to Level 2 of the fair value hierarchy. The fair value of loans received was calculated by discounting the cash flows with a market interest rate applied for a similar-period bond. The cash flows were discounted using a weighted average discount rate of 3.11% as at 30 June 2026 (31 December 2025: 3.14%). The measurement of fair value of loans received is attributed to Level 2 of the fair value hierarchy. The table below presents allocation between the fair value hierarchy levels of the parent company’s financial instruments as at 30 June 2026: Level 1 Level 2 Level 3 EURm Note Carrying amount Quoted prices in active markets Other directly or indirectly observable inputs Unobser- vable inputs Total Financial instruments measured at FVTPL Assets Investment funds – at FVTPL 9 27.2 - - 27.2 27.2 Financial instruments for which fair value is disclosed Assets Loans granted to other Group companies 2,600.7 - 2,598.1 - 2,598.1 Liabilities Bonds issued 908.0 - 888.0 - 888.0 Loans received 548.3 - 529.6 - 529.6 The table below presents allocation between the fair value hierarchy levels of the parent company’s financial instruments as at 31 December 2025: Level 1 Level 2 Level 3 EURm Note Carrying amount Quoted prices in active markets Other directly or indirectly observable inputs Unobser- vable inputs Total Financial instruments measured at FVTPL Assets Investment funds – at FVTPL 9 26.1 - - 26.1 26.1 Financial instruments for which fair value is disclosed Assets Loans granted to other Group companies 1,999.1 - 2,031.6 - 2,031.6 Loans granted to subsidiary AB “Energijos skirstymo operatorius” 624.5 - 605,8 - 605.8 Liabilities Bonds issued 904.3 - 878,9 - 878.9 Loans received 849,3 - 816,6 - 816.6 16 Events after the reporting period There were no significant events after the reporting period till the issue of these financial statements. *** First six months 2026 interim report / Parent company's financial statements 88 / 90 Verified by MarkSign.lt
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Darius Maikštėnas Chief Executive Officer Jurgita Maždžierė Head of Group Financial Control & Reporting Jonas Rimavičius Chief Financial Officer 11 August 2026 Responsibility statement Referring to the provisions of Article 13 of the Law on Securities of the Republic of Lithuania and the Rules of Disclosure of Information of the Bank of Lithuania, we, Darius Maikštėnas, Chief Executive Officer, Jonas Rimavičius, Chief Financial Officer, and Jurgita Maždžierė, Head of Group Financial Control & Reporting, hereby confirm that, to the best of our knowledge, AB “Ignitis grupė” group of companies’ interim condensed consolidated and the parent company’s interim condensed financial statements for the six months period ended 30 June 2026, prepared in accordance with International accounting standard 34 ‘Interim financial reporting’ as adopted by the European Union, give a true and fair view of AB “Ignitis grupė” consolidated and the parent company’s assets, liabilities, financial position, profit or loss, cash flows for the period, and that the interim management report includes a fair review of the development and performance of the business as well as the condition of Group companies’ and the parent company, together with the description of the principle risks and uncertainties it faces. AB “Ignitis grupė” Laisvės Ave. 10, LT-04215 Vilnius, Lithuania +370 5 278 2222 grupe@ignitis.lt www.ignitisgrupe.lt/en/ Company code 301844044 VAT payer code LT100004278519 89 / 90 First six months 2026 interim report / Responsibility statement Verified by MarkSign.lt
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AB “Ignitis grupė” Laisvės Ave. 10, LT-04215 Vilnius, Lithuania Company code 301844044 +370 5 278 2222 grupe@ignitis.lt www.ignitisgrupe.lt/en/ Investor relations ir@ignitis.lt Sustainability sustainability@ignitis.lt Corporate communication media@ignitis.lt Publication 12 August 2026 Verified by MarkSign.lt