Information about a meeting of the Supervisory Board of Petrol d.d., Ljubljana

At today’s 19th (extraordinary) meeting of the Supervisory Board of Petrol d.d., Ljubljana, the Management Board has familiarised the Supervisory Board members with the further preliminary findings from the independent business review and the legal review of Geoplin d.o.o. Ljubljana, including the legal and financial effects of the reduced natural gas supplies from the Russian Federation and the increased natural gas purchases from alternative sources, and the effect thereof on Geoplin d.o.o. Ljubljana’s need for additional liquid assets and capital until the end of 2022. The assumptions are based on various scenarios of gas price trends and halted supplies of gas from the Russian Federation, whereby none of the scenarios can be confirmed with sufficient certainty as of yet.

The management of Geoplin d.o.o. Ljubljana continues to carry out all activities to ensure the uninterrupted supply to Slovenian customers.

The Supervisory and Management Boards of Petrol d.d., Ljubljana are committed to managing liquidity and business risks related to Geoplin d.o.o. Ljubljana with the purpose to ensure a reliable supply of natural gas and limit the potential negative effects on Petrol d.d., Ljubljana.

The adoption of concrete decisions regarding the capital increase in Geoplin d.o.o. Ljubljana and other related decisions, if any, is planned for October.