Changes in the Nomination Committee of Tallinna Sadam

Pursuant to the decision of the Annual General Meeting of Tallinna Sadam on 14.05.2019, the Chairman of the Nomination Committee of the state-owned companies formed by the state is also a member of the Nomination Committee of Tallinna Sadam. At the end of January, the terms of office of all members of the State Nomination Committee expired, including the Chairman Erkki Raasuke, and new members were elected to the State Nomination Committee. On 07.02.2020, Kaido Padar was elected as the new Chairman of the State Nomination Committee, and therefore he automatically became a member of the Nomination Committee of Tallinna Sadam.

Kaido Padar has a bachelor's degree from the University of Tartu and has extensive experience in marketing and communication in the Tallinn City Government, the Chancellery of Riigikogu (Estonian Parliament), and the Estonian National Opera. Padar has participated in the supervisory boards of various companies, worked as a member of the Management Board of AS Eesti Post and participated in the launch of the ferry service as Chairman of the Management Board of OÜ TS Laevad, a subsidiary of Tallinna Sadam. Currently Kaido Padar is the Chairman of the Management Board of AS Eesti Talleks.

The task of the Nomination Committee of Tallinna Sadam, established in 2019, is to evaluate the suitability of the Supervisory Board members and to make proposals for the election and removal of Supervisory Board members, the composition of the Supervisory Board, the duration of their mandate and the remuneration. The members of the Nomination Committee are, tree representatives of the majority shareholder by their function: Secretary General of the Ministry of Finance Veiko Tali, Secretary General of the Ministry of Economic Affairs and Communications Ando Leppiman, Chairman of the State Nomination Committee; and two representatives of the minority shareholders with a term date of 5 years - Principal Banker of Transport Team of EBRD Elena Kiseleva and Management Board Member of SEB Varahalduse AS Sven Kunsing.

Tallinna Sadam thanks Erkki Raasuke for contributing his extensive experience to the work of the Nomination Committee of Tallinna Sadam.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2019 serviced 10.64 million passengers and 19.9 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 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 2018 totaled EUR 130.6 million, adjusted EBITDA EUR 74.4 million and net profit EUR 24.4 million.

Additional information:

Marju Zirel

Head of Investor Relations

AS Tallinna Sadam