Management and Supervisory Board meeting held

The meeting of the Management Board and the Supervisory Board of Tankerska Next Generation was held on April 29^th, 2020.

Supervisory Board considered and adopted the Financial statements for the year ended December 31^st, 2019 together with Independent auditor's report, and the Annual Company status report.

Financial statements were audited by Deloitte Ltd., and the auditor stated that the financial statements present in all material respects a fair financial position of TNG, as of December 31^st, 2019, financial performance, changes in equity, and cash flows for the year 2019, in accordance with International Financial Reporting Standards as adopted by the European Union.

The Management Board proposed, and the Supervisory Board adopted a decision about the proposal regarding 2019's profit distribution which will be proposed to the General Assembly.

Net profit of Tankerska Next Generation for the year ending with December 31^st, 2019 is HRK 23,340,242.00.

The proposal to the General Assembly is that no part of net profit in the amount of HRK 23,340,242.00 shall be paid out as dividend to shareholders.

A part of net profit in the amount of HRK 1,167,012.10 shall be allocated to mandatory reserves, and a part of the net profit in the amount of HRK 22,173,229.90 shall be allocated to retained earnings.

Furthermore, on the aforementioned session the Supervisory board considered and adopted the unaudited financial statements for the first quarter of 2020.