NOVATURAS AB - AB “Novaturas” is finishing refunds for the trips that have been cancelled due to the pandemic

POLISH FINANCIAL SUPERVISION AUTHORITY

UNI - EN REPORT No 14 / 2021

Date of issue: 2021-03-02

Short name of the issuer

NOVATURAS AB

Subject

AB “Novaturas” is finishing refunds for the trips that have been cancelled due to the pandemic

Official market - legal basis

art. 17. 1 MAR.

Unofficial market - legal basis

Contents of the report:

The leading tour operator in the Baltic states AB “Novaturas” is finishing refund process which group-wide amounts to 9.3 million euros. In the first days of March the refunds will reach the last travelers. Refund money have been transferred firstly to those travelers whose trips have been canceled the earliest. In January 2021, reached agreement with the Ministry of Economy and Innovation of the Republic of Lithuania and business guarantee fund “Invega” on additional 1 million 18 thousand euros loan allowed the Company to accelerate the refund process. 4 million euros, which account for 98% of the total amount to be reimbursed in Lithuanian market were refunded to Lithuanian travelers. In Latvia and Estonia, the settlements have been completed, amounting to 1.4 million and 3.9 million euros, respectively. "We have started making first refunds in July 2019. Have to admit that the refund process did not go as smoothly as we had hoped, but we are pleased to have found compromises with the institutions that provided us with incentive measures and that we have settled with our travelers. So far, due to inaccurate information provided in refund requests or reservation forms, 160 reservations have not yet been refunded. We are solving these inaccuracies with the travelers who have submitted those request forms and the money will be refunded as soon as possible”, says Audronė Keinytė, head of “Novaturas” group. About “Novaturas” Group AB “Novaturas” Group is the largest tour operator in the Baltic States, offering summer and winter package holidays in more than 30 destinations worldwide and more than 100 sightseeing routes. In 2019, the group served more than 293 thousand customers. CFO Tomas Staškūnas [email protected], [phone]

Annexes

File Description

NOVATURAS AB

(fullname of the issuer)

NOVATURAS AB Usługi inne (uin)

(short name of the issuer) (sector according to clasification of the WSE in Warsow)

LT-44245 Kowno

(post code) (city)

A.Mickeviciaus 27

(street) (number)

[phone] [phone]

(phone number) (fax)

(e-mail) (web site)

(NIP) (REGON)

SIGNATURE OF PERSONS REPRESENTING THE COMPANY

Date Name Position / Function Signature

2021-03-02 Tomas Staskunas CFO