Ignitis Renewables takes over full control of the Curonian Nord offshore wind farm

Core Viewpoint - Ignitis Renewables has signed a sale and purchase agreement to acquire 49% shares in UAB "Offshore wind farm 1", which is developing the Curonian Nord offshore wind project, following approval from the National Energy Regulatory Council [1][2]. Group 1 - The acquisition will be made at a nominal price, and Ignitis Renewables will reimburse Ocean Winds for project-related costs to secure necessary work, research data, and intellectual property [2]. - The change in shareholder structure will not impact the implementation of the Curonian Nord project, as Ignitis Renewables has the managerial and financial capacity to proceed with preparatory work and investments needed for a construction permit by 2027 [3]. - Ignitis Renewables plans to select a new partner before making a final investment decision [3]. Group 2 - Ocean Winds is exiting the Curonian Nord project and will focus on other markets, with the transaction expected to close within a few days [4]. - The announcement does not affect the Group's Adjusted EBITDA and Investments guidance for 2025 [4].