1. Report of the Board on results of operations in 2015.

Draft resolution:
To take notice of the Report of the Board on results of operations in 2015.

2. Report of the Council on results of operations in 2015.

Draft resolution:
To take notice of the Report of the Council on results of operations in 2015.

3. Report of the Auditing Committee on activities in 2015.

Draft resolution:
To take notice of the Report of the Auditing Committee on activities in 2015.

4. Approval of the Audited Consolidated Annual Report of Group and Parent Company for 2015.

Draft resolution:
To approve the Audited Consolidated Annual Report of JSC Olainfarm group and of Parent Company for 2015.

5. Distribution of profit of 2015.

Draft resolutions:
5.1. To use part of the year 2015 profit of JSC Olainfarm in amount of 2 549 399.12 euros to pay dividends to shareholders of JSC Olainfarm, (ISIN code of the shares LV0000100501) paying 0.181 euros per one share. Part of the profit in amount of 12 016 600.88 euros to retain undistributed and to reinvest in development of JSC Olainfarm.
5.2. Set September 14, 2016, as a record date for dividends and September 21, 2016, as the date of payment of dividends.

6. Report of the Board on budget and on planned operations in 2016.

Draft resolution:
To take notice of Report of the Board on budget and on planned operations in 2016, which include Parent Company’s unconsolidated turnover forecast for 2016 in amount of 86 million euro, and JSC Olainfarm consolidated turnover forecast for 2016 in amount of 100 million euro. Forecast of unconsolidated profit of JSC Olainfarm is 9 million euro, but consolidated profit is 10 million euro.

7. Election of the Certified Auditor for 2016.

Draft resolutions:
7.1. to elect SIA Ernst & Young Baltic (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2016.
7.2. to set 43 300 EUR as the total remuneration of certified auditor for 2016.

8. Election of the Auditing Committee.

Draft resolutions:
8.1. to elect Viesturs Gurtlavs to be the sole member of the Auditing Committee.
8.2. to set the total monthly remuneration of the Auditing Committee at 4800 euros.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

According to preliminary consolidated results of JSC Olainfarm for April 2016, sales of the company have reached 8.82 million euros, which represents a reduction by 4% compared to April of 2015. The biggest sales increase was achieved in Italy, where sales grew by 388%. Sales to Uzbekistan grew by 191%; sales to Turkmenistan grew by 77% while sales to Lithuania grew by 69%. The major sales markets in April were Russia, Latvia, Ukraine, Belarus and Uzbekistan.

Sales of chain of pharmacies of Latvijas aptieka Ltd., fully owned by JSC Olainfarm were 1.58 million euros, which represents an increase by 13% compared to April of 2015. Sixty-one pharmacies were operating during this period. Sales of Silvanols Ltd. during April of 2016 were 0.39 million euros, which represents an increase by 18% compared to April of last year. During April of this year, Silvanols Ltd. sold its products in six European countries, and, with a help of JSC Olainfarm, also to Albania, Kosovo and Azerbaijan.

In four months of 2016, according to preliminary consolidated results, consolidated sales of JSC Olainfarm were 35.05 million euros, which represents a reduction by 5% compared to the same period of 2015. The biggest sales increase was achieved in Italy, where sales grew by 328%. Sales to Uzbekistan grew by 158%, sales to Turkmenistan grew by 133% while sales to Belarus grew by 51%. Major sales markets in four months of 2016 were Russia, Latvia, Ukraine and Belarus.

During 4 months of 2016, sales of pharmacy chain of Latvijas aptieka Ltd. were 6.6 million euros, which represents an increase by 18% compared to the same period of 2015. Sales of Silvanols Ltd. during this 4 months period were 1.6 million euros, which represents an increase by 14% compared to 2015, when its sales during four months were 1.4 million euros. Products of Silvanols Ltd. were sold to nine European countries and with the help from JSC Olainfarm to Albania, Kosovo, Azerbaijan and Belarus.

According to unconsolidated preliminary results, sales of JSC Olainfarm during April 2016 reached 7.67 million euros, which represents a reduction by 5% compared to the same period of last year. The biggest sales increase was achieved in Italy, where sales increased by 388%. Sales to Uzbekistan increased by 191%, but sales to Turkmenistan increased by 77%. The major sales markets were Russia, Ukraine, Latvia, Belarus and Uzbekistan. During April 2016, JSC Olainfarm sold its products to 27 countries in three continents.

According to unconsolidated preliminary results sales of JSC Olainfarm in four months of 2016 were 30.39 million euros, which represents a reduction by 7% compared to the same period of 2015. The biggest sales increase was achieved in Italy, where sales grew by 328%. Sales to Uzbekistan grew by 158%; sales to Turkmenistan grew by 133%, while sales to Belarus grew by 51%. Major sales markets of JSC Olainfarm in four months of 2016 were Russia, Ukraine, Latvia and Belarus. In total, during four months of 2016 products of JSC Olainfarm were sold to 37 countries in three continents.

According to preliminary estimates of JSC Olainfarm, unconsolidated sales of company in 2016 could reach 90 million euros, while consolidated sales are expected to reach 103 million euros. According to preliminary sales figures published here, in four months of 2016, the Company has attained 34% of its target for unconsolidated sales and 34% of its target for consolidated sales.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

The amount of net profit made by JSC Olainfarm in 2015 is 14 566 000.00 (fourteen million five hundred and sixty six thousand) euros.

Management Board of JSC Olainfarm proposes to use part of the year 2015 profit of JSC Olainfarm in amount of 2 549 399.12 euro to pay dividends to shareholders of JSC Olainfarm (ISIN code of the shares LV0000100501) paying 0.181 euro per one share, but part of the profit in amount of 12 016 600.88 to retain by the company and reinvest into further development of JSC Olainfarm.

Management Board of the Joint Stock company Olainfarm (registration number. 40003007246, registered  address: Rupnicu iela 5, Olaine, LV-2114) convenes and announces that the Annual General Meeting of JSC Olainfarm Shareholders will be held on June 7th, 2016 at 11:00 at the  premises of JSC Olainfarm in Olaine, Rupnicu iela 5.

Agenda:

1.  Report of the Management Board about the results of operations in 2015.
2.  Report of the Council about the results of operations in 2015.
3.  Report of the Auditing Committee about 2015.
4.  Approval of JSC Olainfarm Сonsolidated and Parent Сompany’s Annual Report for year 2015.
5.  Distribution of profit of 2015.
6.  Report of the Management Board about the budget and operational plan for 2016.
7. Elections of the sworn auditor for 2016 and setting of the remuneration for the sworn auditor.
8. Elections of the Auditing Committee for 2016 and setting of the remuneration of the Auditing  Committee.

Registration of the shareholders will take place on the day of the meeting, i.e. June 7th, 2016 from  10:00 until 10:45 on the venue.

Total number of shares and the total number of the voting shares of JSC Olainfarm is 14 085 078.

Date of the record for participation of the shareholders in the Annual General Meeting of shareholders  of JSC Olainfarm is May 30th, 2016. Only those who are the shareholders at the date of record have  the right to participate in the Annual General Meeting of shareholders on June 7th, 2016, with the  number of shares held by them at the date of record.

Shareholders may participate in the Annual General Meeting of shareholders either in person or  represented through a proxy:

– When registering the shareholders must present either the passport or other  identification document;
– When registering the representatives of the shareholders must present the passport or  other identification document, submit a written power of attorney by the represented shareholder (the  form of the power of attorney is available at JSC Olainfarm web-site  https://lt.olainfarm.com, web-site of the system of Central Storage of Regulated Information http://www.oricgs.lv; and web-site of JSC  NASDAQ OMX Riga http://www.nasdaqomxbaltic.com) or the legal representative has to present a document confirming the authority.

Shareholders have the following rights:

– shareholders that represent at least 1/20 of the capital of the company have the right  to within 7 days after the announcement is published to request the Management Board of JSC Olainfarm  to include additional items in the agenda. Shareholders that request inclusion of additional items in  the agenda of the Annual General Meeting of shareholders must submit to the Management Board of JSC  Olainfarm draft decisions about the issues to be included in the agenda upon their request or  explanations about the item, if no decision is planned;

– within 7 days after the publishing of this announcement, submit draft decisions about  the items of agenda.  Should all submitted draft decisions be reviewed and declined, shareholders may  submit their proposed draft decisions during the Annual General Meeting of Shareholders itself;

– should the shareholder submit an inquiry at least 7 days before the Annual General  Meeting of shareholders, the Management Board shall at least 3 days before the Annual General Meeting  of shareholders provide the requested information about the items included in the agenda. It is a duty  of the Management Board to upon the request of the shareholder provide information about the economic  situation of the company to the extent necessary for objective decision-making of the particular item  on the agenda.

Shareholders may see the draft resolutions of the Annual general Meeting of Shareholders from May 24,  20165 until June 6, 2016 on business days from 09:00 until 16:00 in Olaine, Rupnicu iela 5, in the Legal  division of JSC Olainfarm, if scheduled in advance through telephone + 371 6 7013 870 or on the web  page of JSC Olainfarm  https://lt.olainfarm.com, but on the day of the Annual General Meeting – at the registration desk.

JSC Olainfarm Сonsolidated and Parent Сompany’s Annual Report for year 2015, report of the independent auditors, report of the Council, Corporate governance report and profit distribution proposals are available at web  page of JSC Olainfarm  https://lt.olainfarm.com, web-page of the system of Central Storage of Regulated Information http://www.oricgs.lv and the web page of JSC NASDAQ OMX Riga http://www.nasdaqomxbaltic.com.

Form of Power of Attorney

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

Audited consolidated profit and loss account of JSC Olainfarm for 2015 shows that consolidated net profit was 15.3 million euros. This represents an increase by 25% compared to the net profit of 2014 and by 8% compared to the net profit of 2012, when the previous profit record was set. Parent company’s net profit in 2015 was 14.6 million euros, which represents an increase by 28% compared to the net profit of 2014.

Sales of the Group in 2015 reached 97.4 million euros, which represents an increase by 4% compared to 2014, when sales of the Group were 93.7 million euros and is the highest sales number ever reached by the group so far. Sales of the Parent company in 2015 were 84.7 million euros, which also represents an increase by 4% compared to 2014, when Parent company made sales of 81.6 million euros.

The biggest consolidated sales increase (by 107%) was achieved in The Netherlands, where products for WHO’s Anti-Tuberculosis program are shipped. Sales in Tajikistan increased by 39%, sales to Latvia by 11%. The major sales markets of the Group in 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands

The biggest Parent company’s sales increase in 2015 was achieved in The Netherlands where sales grew by 107%. Sales to Turkmenistan grew by 46%, but sales to Tajikistan grew by 39%. Significant sales growth has also been achieved in Latvia where sales of the Parent company increased by 25%. Major sales markets of Parent company of JSC Olainfarm in 2015 were Russia, Latvia, Ukraine Belarus and The Netherlands.

The best sold company’s products in 2015 were neurological products “Neiromidin”, “Noofen” and “Adaptol”, anti-tuberculosis product „PASA Sodium”, Antibacterial products „Furamag” and “Furasol”, antiarrhythmic products “Etacizin” and antihistamine product “Fenkarol”.

During the reporting period, registration processes have been launched in Bosnia and Herzegovina, Vietnam, Myanmar; GMP audit by Turkish pharmaceutical authorities has been passed, and bioavailability tests for Turkish registration completed, allowing the Parent company to proceed with registration in Turkey.

New forms have been developed for „Gripoflex 325” (with reduced content of paracetamol), „ACC 200mg” powder, and lactose free „Memantine” tablets of 10mg and 20mg. The work continues at development of new combined prolonged activity form of nitrofurantoin. Two new food supplements have been developed and registered in Baltic countries with urological and hepatological application. Food supplement „Jogurt Babydrops” has been registered in the Baltics and is planned for further registration in 14 countries.

Annual meeting of shareholders of JSC Olainfarm held on June 11, 2015 approved operating plan of the Group for 2015. According to it, sales of the Group in 2015 are planned to be 100 million euros, but the net profit will reach 15 million euros. According to this audited report for 2015, during this period 97.4% of annual sales target and 101.9% of annual profit target is met. The same meeting approved targets for Parent company’s operations, stating that Parent company’s sales target is 87 million euros, but the profit target is 14 million euros. According to these accounts, Parent company met 97.4% of sales target but exceeded its profit target by 4%.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

According to preliminary consolidated results of JSC Olainfarm for March 2016, sales of company have reached 9.05 million euros, which represents a growth by 4% compared to March 2015. The biggest sales increase has been achieved in Ukraine, where sales grew by 361%. Sales to Turkmenistan grew by 208%, sales to Poland grew by 133%, but sales to Lithuania by 120%. During this period, significant shipments have also been made to Uzbekistan. Major sales markets of JSC Olainfarm in March 2016 were Ukraine, Latvia, Russia and Belarus.

Sales of pharmacy chain of Latvijas aptieka Ltd. during March 2016 were 1.63 million euros, which represents an increase by 13% compared to the same period of the last year. Sixty-one pharmacies were operating during March this year. Sales of Silvanols Ltd. during March 2016 were 0.44 million euros, which represents an increase by 52% compared to sales made during March 2015. In March 2016, Silvanols Ltd. sold its products in four European countries and with assistance of JSC Olainfarm also to Azerbaijan and Belarus.

In three months of 2016, according to preliminary consolidated results, sales of JSC Olainfarm reached 26.1 million euros, which represents a reduction by 6% compared to three months of 2015. The most rapid sales increase has been achieved in Poland, where sales grew by 181%. Sales to Turkmenistan grew by 162%, sales to Uzbekistan grew by 134% and sales to Belarus grew by 77%. Major sales markets of JSC Olainfarm in three months of 2016 were Latvia, Russia, Ukraine and Belarus.

During the three months period of 2016 sales of pharmacy chain of  Latvijas aptieka Ltd. reached 5.02 million euro, which represents an increase by 19% compared to the same period of 2015. Sales of Silvanols Ltd. in three months of 2016 were 1.22 million euro, which represents an increase by 11% compared to the first quarter of 2015, when sales of Silvanols were 1.1 million euros. Products of Silvanols Ltd. were sold to eight European countries and with assistance of JSC Olainfarm also to Azerbaijan and Belarus.

According to preliminary unconsolidated results, sales of JSC Olainfarm in March 2016 were 7.91 million euros, which represents an increase by 3% compared to the same period of 2015. The biggest sales increase was achieved to Ukraine, where sales grew by 361%. Sales to Italy grew by 287%, sales to Turkmenistan grew by 208%, and sales to Lithuania grew by 159%. Significant shipments during this period were also made to Uzbekistan. Major sales markets of JSC Olainfarm were Ukraine, Russia, Latvia and Belarus. During March 2016, products of JSC Olainfarm were sold to 28 countries in three continents.

According to unconsolidated preliminary results for three months of 2016, sales of JSC Olainfarm have reached 22.6 million euros, which represents a reduction by 8% compared to the same period of 2015. The most rapid sales increase was achieved in Turkmenistan, where sales grew by 162%. Sales to Uzbekistan grew by 134%, while sales to Belarus and Lithuania grew by 77% each. The major sales markets of JSC Olainfarm in three months of 2016 were Russia, Ukraine, Latvia and Belarus. In three months of 2016, products of JSC Olainfarm were sold to 32 countries in three continents.

According to preliminary estimates by the management of JSC Olainfarm, unconsolidated sales in 2016 are expected at 90 million euros, while consolidated sales at 103 million euros. According to these preliminary sales results, in three months of 2016, the company has reached 25% of its annual unconsolidated sales estimate and 25% of its annual consolidated sales estimate.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

Preliminary consolidated results of JSC Olainfarm for February 2016 show that sales of the group have reached 8.23 million euros, which represents a reduction by 28% compared to February of 2015. The biggest sales increase was achieved in Uzbekistan, where sales grew by 387%. During February significant shipments have also been made to Tajikistan. The major sales markets of JSC Olainfarm during this period were Latvia, Russia, Ukraine and Belarus.

Sales of pharmacy chain of Latvijas aptieka Ltd. during February 2016 were 1.74 million euro, which represents an increase by 30% compared to February of 2015. Sixty-two pharmacies were operating during this period. Sales of Silvanols Ltd. in February 2016 were 0.47 million euros, which represents an increase by 9% compared to February of 2015. During February of 2016,  Silvanols Ltd. was selling its products to four European countries and with assistance from JSC Olainfarm also to Azerbaijan and Belarus.

According to preliminary consolidated results, sales of the group of JSC Olainfarm during two months of 2016 were 17.06 million euros, which represents a reduction by 11% compared to the same period of 2015. The biggest sales increase during this period was achieved in Poland, where sales grew by 226%. Sales to Belarus increased by 164%, sales to Kazakhstan increased by 75%. During two months of 2016, significant shipments were also made to Germany and Tajikistan. Major sales markets of JSC Olainfarm during two months of 2016 were Latvia, Russia, Belarus, Ukraine and the UK.

During two months of 2016, sales of Latvijas aptieka Ltd. reached 3.4 million euros, which represents an increase by 21% compared to the same period one year ago. Sales of Silvanols Ltd. during two months of this year were 0.79 million euros, which represents a reduction by 4% compared to the same period of 2015, where this company made sales of 0.82 million euros. During two months of 2016, products of Silvanols Ltd. were sold to eight European countries and with the help of JSC Olainfarm also to Azerbaijan and Belarus.

According to unconsolidated preliminary results for February 2016, sales of JSC Olainfarm during this period were 6.93 million euros, which represents a reduction by 33% compared to the same period of 2015. The biggest sales increases were achieved in Uzbekistan, where sales grew by 387% and Lithuania, where sales grew by 65%. During February 2016, JSC Olainfarm also made significant shipments to Tajikistan. Major sales markets during this period were Russia, Ukraine, Latvia and Belarus. Products of JSC Olainfarm were sold to 24 countries on three continents.

According to preliminary unconsolidated results, sales of JSC Olainfarm in two months of 2016 were 14.68 million euros, which represents a reduction by 13% compared to the respective period of 2015. The most rapid sales increases during two months of this year were achieved in Belarus, where sales grew by 164%, and Kazakhstan where sales grew by 75%. During two months of 2016 significant shipments were also made to Germany, Tajikistan and Poland. Major sales markets of JSC Olainfarm during two months of 2016 were Russia, Belarus, Latvia, and the UK. In total, during two months of 2016, products of JSC Olainfarm were sold to 30 countries on three continents.

In accordance with preliminary estimates by JSC Olainfarm, unconsolidated sales of the company in 2016 might reach 90 million euros, while consolidated sales of the group could be as high as 103 million euros. According to these preliminary sales figures, in two months of 2016, 17% of annual target for unconsolidated sales and 16% of annual target for consolidated sales have been achieved.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv