As it was notified already before, on August 16^th, 2019 Riga City Vidzeme Urban Court resolved (a) to satisfy the application of the legal protection proceedings of AS „Rīgas kuģu būvētava” (Company); (b) to implement the legal protection proceedings of the Company; (c) to approve the plan of measures of the legal protection proceedings of the Company; and (d) to set the period of 2 (two) years for implementation of the legal protection proceedings of the Company, effective from August 16^th, 2019.

According to the further resolutions of Riga City Court of May 15^th, 2020, January 25^th, 2021, September 17^th, 2021, and November 01^st, 2022, the amendments to the plan of measures of the legal protection proceedings were approved, by setting the period of 5 (five) years for implementation of the legal protection proceedings of the Company, effective from August 16^th, 2019.

On August 15^th, 2022, the period for implementation of the legal protection proceedings set by the court came to an end, whereas within the framework of the plan of measures of the legal protection proceedings in accordance with its provisions, the Company has covered in full both the principal claims of secured creditors and the principal claims of unsecured creditors.

Hereby the Company declares that on March 31^st, 2025, the Riga City Court resolved to end the legal protection proceedings of the Company due to the completion of the plan of measures of legal protection proceedings, thereby fully restoring the solvency of the Company.

The Company thanks its creditors for the provided support during the implementation of the plan of measures of the legal protection proceedings.

More detailed information on implementation of the plan of measures of the legal protection proceedings of the Company will be published soon.

The Board of Directors of AS „Rīgas kuģu būvētava”