Market announcement

Title

CORRECTION: Tallinna Sadam audited Annual Report 2022 and dividend proposal

Message

In  this notice, the date of fixing the list of shareholders entitled to receive
dividends and the related ex-date have been corrected. The dividend payment date
remained the same.

The  supervisory  board  of  AS  Tallinna  Sadam (hereinafter: "Tallinna Sadam")
approved  the audited annual report for  2022 presented by the management board.
There  are no differences in the audited  financial results, compared to the 12-
month unaudited financial results disclosed on 28 February 2023.

In  2022, the  annual  revenue  of  Tallinna  Sadam  group was EUR 121.7 million
(+11%),  adjusted EBITDA amounted to EUR 56 million (+3%) and the profit was EUR
25.6 million (-0.1%). The volume of investments was EUR 13.9 million (-6%).

Based  on the dividend policy approved by the general meeting of shareholders to
pay  a  dividend  at  least  70% of  the  profit, the management board, with the
approval  of  the  supervisory  board,  will  propose  to the general meeting of
shareholders  to  pay  a  dividend  of  EUR  0.073 per  share  in 2023, totaling
EUR 19.199 million, which is 75% of profit.

According  to the draft resolution of  the shareholders submitted to the general
meeting,  the  list  of  shareholders  entitled  to  receive  dividends  will be
established  as  at  10.05.2023 at  the  end  of  the business day of Nasdaq CSD
settlement  system. Consequently, the day of change of the rights related to the
shares  (ex-dividend  date)  is  set  to  09.05.2023. From  that  day the person
acquiring  the  shares  will  not  have  the  right to receive dividends for the
financial  year  2022. Dividends  shall  be  disbursed  to  the  shareholders on
12.05.2023.

According to Valdo Kalm, chairman of the management board of Tallinna Sadam, the
company  was able to increase its revenue and adjusted EBITDA despite the impact
of  the war and sanctions on the cargo  business and the rapid increase in input
prices,  which once again proves the effectiveness of a balanced business model.
"The  recovery of the passenger business from  the pandemic has been faster than
expected,  and in the cargo business, in addition to the negative effects of the
war  to the liquid bulk, we also see opportunities for the growth of other types
of  cargo. Despite the  crises, we continue  to be a  profitable company and our
strong  liquidity position allows us to exceed the dividend promise once again,"
said Kalm.

The  consolidated annual report of Tallinna  Sadam Group for 2022 is attached to
this  announcement in different  formats and is  also available on the company's
website at: https://www.ts.ee/en/investor/annual-reports/. The annual report has
been    submitted    in    a    machine-readable   manner   (data   file   named
25490093MDYISEP1Y539-2022-12-31-et.zip)  in accordance with  the requirements of
the  European Single Electronic Format  Regulatory Technical Standard (ESEF RTS)
and also in human-readable format as pdf copy.

Tallinna  Sadam is one of the largest cargo- and passenger port complexes in the
Baltic  Sea region, which  serves annually 10 million  passengers and 20 million
tons  of  cargo  in  average.  In  addition  to  passenger and freight services,
Tallinna  Sadam group also operates in  shipping business via its subsidiaries -
OÜ  TS  Laevad  provides  ferry  services  between the Estonian mainland and the
largest  islands, and OÜ TS Shipping charters its multifunctional vessel Botnica
for  icebreaking  and  construction  services  in  Estonia and offshore projects
abroad.  Tallinna Sadam  group is  also a  shareholder of  an associate AS Green
Marine, which provides waste management services.

Additional information:

Marju Zirel
Head of Investor Relations
Tel. +372 5342 6591

[email protected] (mailto:[email protected])