Changes in the Management Board of AS Tallinna Sadam subsidiary TS Shipping

The  Supervisory  Board  of  TS  Shipping  OÜ  (hereinafter:  "TS  Shipping"), a
subsidiary  of AS Tallinna  Sadam, has decided  to appoint Margus  Raad as a new
Member  of the Management Board,  with a term of  office of three years starting
from 15 January 2026. Margus Raad will be responsible for international business
development and sales.

Valdo  Kalm, the Chairman  of the Supervisory  Board of TS Shipping, highlighted
Margus  Raad's extensive experience in the maritime sector and management, which
will  support the implementation of TS  Shipping's strategy and finding suitable
offshore projects for Botnica.

Margus  Raad graduated from the Estonian  Maritime Academy in 2003 with a degree
in  nautical sciences and subsequently worked for several years as an officer on
various  vessels.  In  2007, he  joined  Tschudi  Ship  Management AS, a company
providing  vessel technical and  crew management services,  working as a quality
and  safety coordinator. Later, he served as deputy CEO of the same company, and
since the end of 2012 he has been the CEO of Tschudi Ship Management AS.

Margus Raad does not hold shares in AS Tallinna Sadam.

The  Management Board of  TS Shipping includes  Chairman of the Management Board
Vahur Ausmees and until 30 November 2025 Damir Utorov.

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