Market announcement

Title

Tallinna Sadam audited Annual Report 2024 and dividend proposal

Message

The supervisory board of AS Tallinna Sadam (hereinafter: "Tallinna Sadam")
approved the audited annual report for 2024 presented by the management
board. Compared to the unaudited interim report published on 28 February, there
are no differences in the audited financial results.

In  2024, the  annual  revenue  of  Tallinna  Sadam  group was EUR 119.6 million
(+2.5%)  adjusted EBITDA amounted  to EUR 53.1 million  (+8%) and the profit was
EUR  19.2 million (+21%). The  total amount of  investments was EUR 38.8 million
(+87%).

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 2025, totaling
EUR 19.199 million.

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  9 May  2025 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  8 May  2025. From  that day the person
acquiring  shares will not have the right to receive dividends for the financial
year 2024. Dividends shall be disbursed to the shareholders on 16 May 2025.

"2024  was  a  successful  year  for  Tallinna  Sadam.  Both passenger and cargo
segments  grew, and  passenger ferries  broke records  in the  transport of both
passengers  and vehicles. The icebreaker Botnica was in operation throughout the
year,  which  confirms  the  demand  for multifunctional ships. We significantly
increased the profit of the company and, based on strong cash flow, we are ready
to  pay  dividends  in  the  same  amount  as  last  year. Looking ahead, we are
preparing  new growth projects  and further optimizing  our operations. We thank
all  our  employees,  partners  and  shareholders,  whose  contribution has been
precious  to our success story," commented Valdo Kalm, the Chairman of the Board
of Tallinna Sadam, on the results of the year.

The  consolidated annual report of Tallinna  Sadam Group for 2024 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 reports
have  been submitted in a machine-readable manner (data file in zip folder named
25490093MDYISEP1Y539-2024-12-31-0-en) in accordance with the requirements of the
European  Single Electronic Format Regulatory  Technical Standard (ESEF RTS) and
in  pdf  format.  The  original  and  digitally  signed  annual  report has been
submitted  in  Estonian  language,  attached  to  the  announcment  in  Estonian
language.

Tallinna  Sadam is one of the largest cargo- and passenger port complexes in the
Baltic Sea region. 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  offshore services in  Estonia and projects  abroad. Tallinna Sadam group is
also  a  shareholder  of  an  associate  AS  Green  Marine, which provides waste
management services.

Additional information:

Andrus Ait
Chief Financial Officer
Tel. +372 526 0735