Agreement to use the ferry Regula as a replacement vessel until the end of 2028

Based  on the successful  tender, a passenger  transport public service contract
was signed on 10 September 2024 between the Ministry of Regional Development and
Agriculture  (hereinafter:  "Ministry")  and  OÜ  TS  Laevad  (hereinafter:  "TS
Laevad")  for the provision  of transport services  for a period  of seven years
starting on 1 October 2026.

According  to the agreement, TS Laevad will provide passenger transport services
on  the Virtsu-Kuivastu  and Rohuküla-Heltermaa  ferry routes  with four ferries
belonging  to TS Laevad and one additional state-owned ferry between 01.10.2026
and 30.09.2033. According to the same agreement, TS Laevad is obliged to provide
a  replacement  vessel  for  the  state-owned  ferry  if  it is not completed by
01.10.2026.

On  13.01.2026, the Ministry and TS Laevad signed an amendment to the agreement,
according to which the ferry Regula, owned by TS Laevad, will be used instead of
the state-owned ferry until 31.12.2028.

According  to the contract amendment, Regula will  make up to 800 trips per year
in  the period 01.10.2026-31.12.2028. The Ministry  will pay an additional fixed
fee  and a variable  fee for the  use of Regula  each year, to  which a trip fee
component  will be added. The Ministry has the right to extend the period of use
of Regula by three months, i.e. until 31.03.2029.

The  costs and investments related to the use of the ferry Regula, including the
expected  return, are covered by the additional  fee agreed upon in the contract
amendment.

Valdo  Kalm,  Chairman  of  the  Board  of  the Port of Tallinn, commented: "The
contract  amendment has a positive impact on TS Laevad and, more broadly, on the
investors of the Port of Tallinn, as it allows the use of the ferry Regula to be
extended until the end of 2028, which will result in stable income and return on
assets."

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])