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Tallinna Sadam audited Annual Report 2023 and dividend proposal

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The supervisory board of AS Tallinna Sadam (hereinafter: "Tallinna Sadam")
approved the
audited annual report for 2023 presented by the management board. In the audited
financial
results of 2023, compared to the 12-month unaudited financial results disclosed
on 28
February 2024, part of unused properties has been reclassified as investment
properties,
interest liabilities have been reclassified from trade and other payables to
short-term loans and
borrowings, and credit losses on financial assets have been presented in a
separate line in the
consolidated income statement. The correction had no impact on the Group's
consolidated
statement of financial position, consolidated statement of cash flows and
consolidated
statement of changes in equity. The changes are presented in Appendix 2 of the
consolidated
financial statements.

In 2023, the annual revenue of Tallinna Sadam group was EUR 116.6 million
(-4,2%) adjusted
EBITDA amounted to EUR 49 million (-12%) and the profit was EUR 15.9 million
(-38%). The
volume of investments was EUR 20.7 million (+50%).

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 2024, 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
10.05.2024 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 09.05.2024. From that
day the person
acquiring the shares will not have the right to receive dividends for the
financial year 2023.
Dividends shall be disbursed to the shareholders on 17.05.2024.

According to Valdo Kalm, chairman of the management board of Tallinna Sadam,
despite the
difficult times, the company continues to earn a decent profit. Different
business areas balance
each other, making the group as a whole resistant to the risks of the external
environment,
which is why we are still ready to pay dividends and at the same time continue
with
investments. "At the moment, there is a strong focus on cost savings while
preparing and
launching new growth projects such as offshore wind farms quay and real estate
development.
At the same time, the strong liquidity position allows paying dividends in the
same amount as
last year," said Kalm.

The consolidated annual report of Tallinna Sadam Group for 2023 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 25490093MDYISEP1Y539-2023-12-31-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. 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
a.ait@ts.ee (mailto:a.ait@ts.ee)