CORRECTION: Tallinna Sadam audited Annual Report 2022 and dividend proposal

In this notice, the date of fixing the list of shareholders entitled to receive dividends and the related ex-date have been corrected. The dividend payment date remained the same.

The supervisory board of AS Tallinna Sadam (hereinafter: “Tallinna Sadam”) approved the audited annual report for 2022 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 2023.

In 2022, the annual revenue of Tallinna Sadam group was EUR 121.7 million (+11%), adjusted EBITDA amounted to EUR 56 million (+3%) and the profit was EUR 25.6 million (–0.1%). The volume of investments was EUR 13.9 million (–6%).

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 2023, totaling EUR 19.199 million, which is 75% 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 10.05.2023 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 09.05.2023. From that day the person acquiring the shares will not have the right to receive dividends for the financial year 2022. Dividends shall be disbursed to the shareholders on 12.05.2023.

According to Valdo Kalm, chairman of the management board of Tallinna Sadam, the company was able to increase its revenue and adjusted EBITDA despite the impact of the war and sanctions on the cargo business and the rapid increase in input prices, which once again proves the effectiveness of a balanced business model. "The recovery of the passenger business from the pandemic has been faster than expected, and in the cargo business, in addition to the negative effects of the war to the liquid bulk, we also see opportunities for the growth of other types of cargo. Despite the crises, we continue to be a profitable company and our strong liquidity position allows us to exceed the dividend promise once again,” said Kalm.

The consolidated annual report of Tallinna Sadam Group for 2022 is attached to this announcement in different formats and is also available on the company's website at: . The annual report has been submitted in a machine-readable manner (data file named 25490093MDYISEP1Y539-2022-12-31-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.

Additional information:

Marju Zirel

Head of Investor Relations

Tel.

Attachments