Governance

Governance

In 2005, the State Enterprise Lithuanian mint was restructured into a private limited company and became Lithuanian mint with 100% of shares owned by the State. The Bank of Lithuania exercises the rights and obligations of the State of the Republic of Lithuania, the sole owner of all shares in Lithuanian mint, and has specified the expectations of the State.

Letter of expectations from the Bank of Lithuania

Lithuanian mint (“LMK”) is managed by the Company Board of Directors and a manager (the CEO). The Company Board consists of 3 members appointed (elected) by the General Meeting of Shareholders for a period of four years in accordance with the procedure established by the laws of the Republic of Lithuania.

Composition of the Company Board

NAME, SURNAME	Eglė Gruodienė
BOARD POSITION	Independent Board Member, Chairperson of the Board. Start and end of position: 30/04/2025 to 30/04/2029
EXPERIENCE	Extensive experience in businesses management and development in the manufacturing industry: AB Utenos trikotažas, AB Šatrija, AB Vilkma, UAB Glassbel Baltic, AB Audimas, etc.
EDUCATION	2002–2004 ISM University of Management, Norwegian Business School, Executive MBA; 1987–1992 Kaunas University of Technology, qualification as Engineer-Technologist in Sewing Technology.
EDUCATION
EMPLOYMENT AND POSITION	Director of UAB Nordic Idea and UAB NI turtas.

NAME, SURNAME	Andrius Surantas
BOARD POSITION	Independent Board Member. Start and end of position: 30/04/2025 to 30/04/2029.
EXPERIENCE	Extensive experience: AB YIT Kausta, UAB Peikko Lietuva, Peikko Slovakia s.r.o, Peikko Group Oy.
EDUCATION	2022 Baltic Institute of Corporate Governance, Board Member Training Programme; 2012, 2014, 2018 IMD, Lausanne, Switzerland. OWP – Business programmes; 2006–2010 Kaunas University of Technology, Kaunas, Lithuania. PhD, Civil Engineering; 2002–2004 Kaunas University of Technology, Kaunas, Lithuania. Master of Science, Civil Engineering.
EMPLOYMENT AND POSITION	Peikko Group, Vice President of Operations

NAME, SURNAME	Marius Adomavičius
BOARD POSITION	Board member. Start and end of position: 30/04/2025 to 30/04/2029.
EXPERIENCE	Extensive experience: AB Swedbank, Hansa-LTB AB, Kredyt Bank PBI SA, AB Lietuvos taupomasis bankas.
EDUCATION	1989–1994 Vilnius University, Systematic Analysis in Economics
EMPLOYMENT AND POSITION	Manager of the Corporate Services Department of the Bank of Lithuania; Manager of Vaikų Saulutė Charity and Support Fund.

The members of the Company Board are paid a fixed salary for the performance of their duties as a member of the Board in accordance with Resolution of the Bank of Lithuania No. 03-74 of 21 April 2023.

Chairperson of the Company Board: 1/3 of the average monthly salary of the Company CEO;

Member of the Board: 1/4 of the average monthly salary of the Company CEO;

Member of the Board delegated by the Bank of Lithuania: 1/6 of the average monthly salary of the Company CEO.

The monthly salary of the Chairperson of the Company Board and/or the members of the Company Board shall be calculated and apply to the entire term of office of the Chairperson of the Company Board.

The Company Board shall elect and dismiss the Company CEO.

Company CEO

NAME, SURNAME	Tomas Miliūnas
EMPLOYMENT AND POSITION	CEO of Lithuanian mint since 4 February 2026; has been employed by the Company since 4 February 2026.
EXPERIENCE	Extensive management experience in international and Lithuanian companies: Circle K group, EBV Finance, Moller Auto Keturi žiedai, etc.
EDUCATION	Vilnius University, Bachelor in Business Administration and Management (2024)

The salary for the Company CEO is set and approved by the Company Board on the basis of salary benchmarking.

The CEO’s salary is established in the employment agreement.

The Company CEO’s salary consists of a fixed base salary (FBS) and a variable component (VC).

The CEO shall be paid an FBS each month.

The VS or an annual bonus shall be paid once, at the end of the financial

year, after the approval of financial statements, if the EBITDA target for the previous financial year

was reached. Maximum bonus amount: two salaries (FBSs); after the bonus is paid

(accrual is made), the company’s EBITDA and net profit must be at least equal to

what was budgeted. The Company budget is approved in January each year.

The Board shall set and approve the annual objectives for the CEO of the Company each year.

The employment agreement may also provide for other benefits:

Company car and/or rental of a private car for the CEO;
Other benefits in accordance with the Company’s compensation payment policy.

The Company’s executive team:

The Company’s operations are executed by the Sales and Marketing, Production and Technology, Purchasing and Logistics, Finance and Accounting Departments and the administration.

NAME, SURNAME	Egidijus Stravinskas
EMPLOYMENT AND POSITION	Head of the Production and Technology Department of UAB Lithuanian mint since 1 February 2023; has been with the company since 15 March 2011.
EXPERIENCE	E. Stravinskas has extensive experience in project-based production. Experience as a designer, 6 years experience as an engineering technologist. Prior to the restructuring of Lithuanian mint , he was head of the Production Department for 3 years.
EDUCATION	E. Stravinskas holds a Bachelor’s degree from the Vilnius Gediminas Technical University in Mechanical Engineering (2008) and a Master’s degree in Mechanical Engineering (2010).

NAME, SURNAME	Irena Damijonaitienė
EMPLOYMENT AND POSITION	Principal Accountant in the Finance and Accounting Department of Lithuanian mint as of 1 February 2022; has been with the company since 14 December 2017.
EXPERIENCE	UAB Prisma LT has 5 years experience, including 3 years as a senior accountant. Experience as a senior accountant-analyst at Lithuanian mint since December 2017. A total of 20 years of experience as a senior accountant.
EDUCATION	Vilnius University, Faculty of International Business Management, Bachelor’s degree in International Business Management (2006).

NAME, SURNAME	Ingrida Turskienė
EMPLOYMENT AND POSITION	Head of Purchasing and Logistics at Lithuanian mint from 1 February 2023; has been with the Company since 30 March 2022.
EXPERIENCE	Extensive experience in procurement, supply, logistics and sales in companies such as UAB G4S Lietuva, UAB Officeday, UAB REISSWOLF LT.
EDUCATION	Vilnius Gediminas Technical University, Bachelor’s degree in Management and Business Administration (2003), NIMA/ISM/EMC/LiMA B certified manager (2022).

NAME, SURNAME	Jurgita Graželytė-Brazienė
EMPLOYMENT AND POSITION	Head of Sales and Marketing at Lithuanian mint from 22 September 2025; has been with the company since 22 September 2025.
EXPERIENCE	J. Graželytė-Brazienė has significant experience in sales, marketing, product management and commercial activities, working with retail and distribution companies. She has been leading teams for over 5 years, taking responsibility for the implementation of strategic initiatives, negotiations with suppliers and manufacturers, product range development, pricing and commercial efficiency.
EDUCATION	Master’s studies at Vytautas Magnus University, Faculty of Economics and Management.