Börsiteade

Pealkiri

Comment on the information published in the media

Teade

On 04.10.2022, the article "Port of Tallinn trusted dubious investors and got
stuck in disputes" (https://majandus.postimees.ee/7619790/vene-raha-tallinna-
sadam-usaldas-kahtlaseid-investoreid-ja-takerdus-vaidlustesse) was published in
the online edition of Postimees. We publish the comment of the board of the Port
of Tallinn on the information presented in the article.

This is an important development project for the Port of Tallinn. When it starts
operations, will bring us additional cargo volume and ship calls both for the
import of raw materials and the export of end products. We have met with the
investors and CEO of MPG Agroproduction and received confirmation from them
about the investors' previous work experience and activities with similar
projects.

The  Port of Tallinn has consistently  checked the background of persons related
to  MPG AgroProduction OÜ (including the actual beneficiaries Roman Artemiev and
Svetlana  Bazhanova) and  these persons  have not  been included  in the list of
sanctioned  persons.  According  to  our  information,  they  are not criminally
punished persons either.

MPG  AgroProduction OÜ  has made  several investments  - to  date, environmental
studies  have been carried out, a preliminary project has been prepared, applied
for  and  processed  (i.e.  coordinated  with  all  statutory authorities) and a
building  permit was  received on  01.07.2021, which has  been disputed  and the
dispute  continues to this day. Since Roheline Rist OÜ (in English: Green Cross)
has  appealed to the court to cancel the building permit regarding this project,
we  have replied  to the  media that  the Port  of Tallinn  does not consider it
ethical  to comment  on the  circumstances and  persons related  to this project
during the ongoing litigation. The Port of Tallinn is not a party to the dispute
either.

Necessary  studies have been carried out in  connection with the project. At the
stage  of preparation  of the  preliminary project  for the  construction of the
soybean  oil factory, the "Expert assessment  of the environmental impact of the
Muuga  soybean oil plant and input  data for providing a preliminary assessment"
has  been prepared. In addition, in 2015, a summary risk analysis "Evaluation of
risks  related to the activities of companies  located in the port area of Muuga
harbour  and preparation of  a summary risk  analysis" was carried  out in Muuga
harbour.

All  obligations of  the Port  of Tallinn  in relation  to the project have been
fulfilled:  the development area has been cleared of the equipment of the former
coal  terminal and handed over  to the developer. Suitable  quays have also been
built  in  the  area  in  the  past.  The  Port of Tallinn does not need to make
additional investments in connection with this project.

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])