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Tallinna Sadam audited Annual Report 2021 and dividend proposal

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The  supervisory  board  of  AS  Tallinna  Sadam (hereinafter: "Tallinna Sadam")
approved  the audited annual report for  2021 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 2022.

In 2021, the annual revenue of Tallinna Sadam group was EUR 110.1 million (+3%),
adjusted  EBITDA amounted to EUR  54 million (-8%) and the  profit was EUR 25.6
million (-10%). The volume of investments was EUR 14.7 million (-60%).

Based  on the dividend policy approved by the general meeting of shareholders to
pay a dividend at least 70% of the profits from 2021 and forward, the management
board,  with the approval of the supervisory  board, will propose to the general
meeting  of shareholders  to pay  a dividend  of EUR  0.097 per share  in 2022,
totaling EUR 25.511 million, which is 100% 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  05.05.2022 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  04.05.2022. From  that  day the person
acquiring  the  shares  will  not  have  the  right to receive dividends for the
financial  year  2021. Dividends  shall  be  disbursed  to  the  shareholders on
12.05.2022.

According to Valdo Kalm, chairman of the management board of Tallinna Sadam, the
company  was able to increase revenue in all business areas despite the negative
impact  of the  pandemic. "The  versatile business  model of  Tallinna Sadam has
withstood  the crisis well -  we are a profitable  company and have been able to
continue  investing in  both the  Old City  harbour and  Muuga harbor. Our 2021
financial  results and strong liquidity position allow us to exceed our dividend
promise.  The ongoing pandemic and security  crisis will, of course, also affect
the operations of Tallinna Sadam, but at the same time open up new opportunities
through  the restructuring  of supply  chains and  the development  of renewable
energy infrastructure," Kalm noted.

The  consolidated annual report of Tallinna  Sadam Group for 2021 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
25490093MDYISEP1Y539-2021-12-31-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. 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])