Börsiteade

Pealkiri

Harju County Court approved the compromise agreement signed with AS Tallink Grupp

Teade

Harju County Court approved the compromise agreement signed on 11 February 2022
by  AS Tallinna Sadam and AS Tallink Grupp, which ends the court dispute between
the  two parties over the port dues offered to passenger ferries in the Old City
Harbour.  According to the compromise agreement, AS Tallink Grupp will waive all
submitted  claims against AS Tallinna  Sadam in this case  and AS Tallinna Sadam
will  change the  port dues  applied to  all passenger ferries operating regular
routes to and visiting the Old City Harbour. More detailed information about the
dispute  can be found in  the stock exchange announcements  of AS Tallinna Sadam
published                   on                   1 March                   2021
(https://view.news.eu.nasdaq.com/view?id=b113fdc182500dd7410f83bd72ae34500&lang=
en),                                15 April                               2021
(https://view.news.eu.nasdaq.com/view?id=beecd4c37bfe9c817308365629a13e93e&lang=
en)                    and                   23 December                   2021
(https://view.news.eu.nasdaq.com/view?id=bcdc91772b2d4ac8eb60899d9957a0b60&lang=
en);  and detailed  conditions of  the compromise  agreement in  the 11 February
2022
(https://view.news.eu.nasdaq.com/view?id=b50befd92811e7c3e6a0e71383e00b410&lang=
en) announcement.

As  a result  of the  compromise agreement,  AS Tallinna  Sadam will  reduce the
tonnage  charge and passenger fee for the regular lines passenger ferries in the
Old  City Harbour by 10% and will increase the discount offered to vessels based
on  their Environmental Ship  Index (ESI). From  2025 onwards, AS Tallinna Sadam
has  the right  to apply  indexation to  the port  dues that  are a part of this
agreement  with the Consumer  Price Index (CPI)  up to 2%. The  changed fees and
charges  will be applied  from 1 March 2022 to  all passenger ferry operators on
regular routes and the agreement applies for next 10 years.

Based  on 2021 passenger traffic  volumes, AS Tallinna  Sadam estimates that the
calculated negative impact of the transaction on the company's financial results
in  2022 will be nearly 2 million  euros. The exact economic  impact on the next
years is difficult to assess due to the ongoing pandemic. The compromise has not
taken  effect yet and it will be confirmed by the court with a court order. Once
the  court confirms the compromise, it will also terminate the court proceedings
of this case.

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 2020
totalled  EUR  107.4 million,  adjusted  EBITDA  EUR 58.4 million and profit EUR
28.5 million.

Additional information:

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

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