Insurance compensation for repairs to the icebreaker Botnica

In  the beginning of  July 2024, the contract  signed between OÜ  TS Shipping, a
subsidiary   of   AS  Tallinna  Sadam  (hereinafter:  Tallinna  Sadam),  and  BP
Exploration  Operating  Company  Ltd  for  the chartering of the multifunctional
icebreaker  Botnica terminated. On 10 July  2024, the Tallinna Sadam published a
notice  about changes  in the  summer operations  of Botnica  due to a technical
failure of the vessel
https://view.news.eu.nasdaq.com/view?id=b3cc982ef69eaa05503bd28de2be607c3&lang=e
n&src=listed
(https://view.news.eu.nasdaq.com/view?id=b3cc982ef69eaa05503bd28de2be607c3&lang=
en&src=listed)).
The  charter period  was followed  by repair  works, during  which the fault was
eliminated  and Botnica was able to continue with the next planned charter work.
The  technical fault was treated as  an insured event. Confirmation of insurance
compensation  has been received from the insurance broker and 900,000 euros have
been compensated for the repairs performed. The insurance compensation will have
a  positive impact on the  financial results of the  Tallinna Sadam group in the
first quarter of 2025.

Tallinna  Sadam is one of the largest cargo- and passenger port complexes in the
Baltic Sea region. 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  offshore services in  Estonia and projects  abroad. Tallinna Sadam group is
also  a  shareholder  of  an  associate  AS  Green  Marine, which provides waste
management services.

Additional information:

Angelika Annus
Head of Investor Relations
Tel. +372 5649 6230
E-mail: [email protected] (mailto:[email protected])