Correction: Changes in the management board of the subsidiary of AS Tallinna Sadam

Correction: additional information about the work experience of Guldar Kivro and ownership of the shares of the issuer.

Supervisory Board of OÜ TS Laevad, the subsidiary company of AS Tallinna Sadam, has decided to appoint Guldar Kivro as new member of the Management Board of OÜ TS Laevad as of 09.12.2018. The service contract of Mart Loik, the current member of the Management Board of OÜ TS Laevad will end on 08.12.2018.

Guldar Kivro has graduated the Estonian Maritime Academy on the field of ship management. Since 2005 he worked as second Officer and Chief Officer on the ships of Tallink. In 2013, Guldar joined the Scottish shipping company Vroon Offshore, where he worked as a Chief Officer and, from 2014, as a captain on oil platform fleet rescue vessels. In June 2016, Guldar joined OÜ TS Laevad as a captain-project manager of the construction of new ferries and has been the captain of the m/v TIIU since the arrival of the ferry on the line. Guldar Kivro will be responsible for shipping.

Guldar Kivro holds 50 shares of AS Tallinna Sadam.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2017 serviced 10.6 million passengers and 19.2 million tons of cargo. 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 m/v 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. Tallinna Sadam group's sales in 2017 totaled EUR 121.3 million, adjusted EBITDA EUR 66.5 million and net profit EUR 26.4 million.

Additional information:

Marko Raid

Member of the Management Board

AS Tallinna Sadam