Regarding the updated Letter of Expectations of the Ministry of Finance received by AB “Ignitis grupė”

Core Viewpoint - The updated Letter of Expectations from the Ministry of Finance of Lithuania outlines the strategic directions and new priorities for AB "Ignitis grupė," emphasizing sustainable development and energy resilience [1][2]. Group 1: Strategic Directions - The Group is expected to maintain its strategic directions, focusing on sustainable development and the maintenance of Green Capacities and Networks [3]. - Energy resilience and security are highlighted as key areas of focus [3]. - The Group is tasked with advancing offshore wind projects in Lithuania [3]. Group 2: New Priorities - The Letter sets new priorities, including an asset rotation program and good governance practices [3]. - A positive customer experience is emphasized as a critical component of the Group's strategy [3]. - The Group aims for net zero emissions by 2050, with specific financial targets such as Net Debt/Adjusted EBITDA <5x and a credit rating of ≥BBB [3]. Group 3: Financial and Operational Goals - The Group targets an Adjusted ROCE of ≥6.5% and annual dividend growth of ≥3% [3]. - New business models are to be developed to increase energy demand, particularly attracting businesses with high energy needs, such as data centers [3]. - There is an emphasis on analyzing and assessing the development of Green Capacities, ensuring required returns on investments before significant further investments are made [3]. Group 4: Project Development and Efficiency - The Group is expected to prepare scenarios for the development of the Curonian Nord offshore wind farm, ensuring economic viability through proposed alternative solutions [3]. - Increasing operational efficiency in existing activities is also a priority [3].