Market announcement

Title

AS Tallinna Sadam operational volumes for 2022 Q1

Message

In  2022 Q1,  4.8 million  tonnes  of  cargo  and 896 thousand passengers passed
through  the harbours of Tallinna Sadam. Compared to the same period of previous
year,  the number of  passengers increased by  140% i.e. 524 thousand passengers
whereas the cargo volume decreased by 8%. The number of vessel calls declined by
2% to  1645 calls.  The  number  of  passengers  travelling between the Estonian
mainland  and the main  islands increased by  20% and the number  of vehicles by
13%. The  number of charter  days of the  icebreaker Botnica stayed  at the same
level as in the previous year, utility rate of the vessel was 100%.

According to Valdo Kalm, chairman of the management board of Tallinna Sadam, the
passenger  business is  recovering from  the low-point  caused by  the COVID-19
pandemic.  "We are  seeing an  increase in  passenger traffic, especially on the
Tallinn-Helsinki  route, but we are still vulnerable to the risks of a pandemic,
and  there is  a degree  of caution  among distant  countries towards  this area
regarding  the Russian-Ukrainian war. Nevertheless,  we are optimistic about the
summer  period and  we are  waiting for  visitors from neighboring countries and
cruise tourists who enjoy travelling," explained Kalm.

The  decrease in cargo volume  is primarily due to  the decrease in dry bulk and
liquid  bulk. In dry bulk, the handling  of fertilizers, as well as wood pellets
decreased,   but  at  the  same  time  the  export  of  grain  stored  increased
significantly due to the growth in market prices. The decline in liquid bulk was
mainly  caused by the  imposition of sanctions  on Belarussian oil products from
March.  The increase in container traffic is due to the low base of the previous
year,  when there  was a  shortage of  empty containers  in the world and global
supply chain failures. The growth trend of ro-ro goods continues.

"The  impact of the sanctions applied to Russia on the cargo volumes of Tallinna
Sadam  is expected in  the following periods,  and it will  primarily affect the
volumes  of oil and gas products and fertilizers, i.e. liquid bulk and dry bulk.
On  the other hand, due  to the relocation of  trade flows, new opportunities in
storage business may arise,"said Kalm.

The operational volumes of Tallinna Sadam group for 2022 Q1:

                                                Q1 2022 Q1 2021 Change Change %

 Cargo volume by type of cargo
 (th tonnes)                                      4 843   5 275   -432    -8.2%

 Liquid bulk                                      1 730   2 068   -337   -16.3%

 Ro-ro                                            1 662   1 542    120     7.8%

 Dry bulk                                           743   1 102   -359   -32.6%

 Containers                                         550     442    108    24.4%

 in TEUs                                         67 828  52 106 15 722    30.2%

 General cargo                                      154     122     32    26.1%

 Non-marine                                           5       0      5 14453.1%





 Number of passengers by routes (th)                896     373    524   140.4%

 Tallinn-Helsinki                                   801     334    468   140.3%

 Tallinn-Stockholm                                   53       0     53   100.0%

 Muuga-Vuosaari                                      32      30      2     6.8%

 Tallinn-St.Petersburg                                0       0      0        -

 Cruise (traditional)                                 0       0      0        -

 Other                                               10      10      0     2.1%





 Number of vessel calls by vessel type            1 645   1 678    -33    -2.0%

 Cargo vessels                                      349     359    -10    -2.8%

 Passenger vessels (incl. Ro-Pax)                 1 296   1 319    -23    -1.7%

 Cruise vessels (traditional)                         0       0      0        -



 Ferries*

 (Saaremaa and Hiiumaa lines)

 Passengers (th)                                    323     269     54    20.2%

 Vehicles (th)                                      178     158     20    12.6%



 Icebreaker Botnica

 Charter days                                        90      90      0     0.0%

 Utility rate (%)                                  100%    100%      0     0.0%

*Ferry  traffic volumes  show the  general demand  for the  service, but  do not
directly  affect the financial results of the ferry segment, as the fee is fixed
in  the service  contract regardless  of the  number of  passengers and vehicles
served.

More  detailed statistics  of passengers  by nationality,  gender and  routes on
monthly   basis,   can   be   viewed   on   the   Tallinna   Sadam   web   page:
https://www.ts.ee/en/statistics/.  We now also publish  quarterly key figures in
xlsx format: https://www.ts.ee/en/investor/key-figures/
Detailed  statistics  on  the  number  of  passengers  and vehicles on passenger
ferries: https://www.praamid.ee/wp/statistics/

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. The  group's sales in 2021
totalled  EUR 110 million,  adjusted EBITDA  EUR 54 million  and profit  EUR 26
million.

Additional information:

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

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