DFDS

M&A Activity • Aug 25, 2025

DFDS EXPANDS CAPACITY ON STRAIT OF GIBRALTAR

DFDS EXPANDS CAPACITY ON STRAIT OF GIBRALTAR

INVESTOR NEWS no. 27 - 25 August 2025

* Purchase of two ferries from Naviera Armas that is exiting Strait of

Gibraltar

* Transaction adds one ferry on each of DFDS' two current routes from

Algeciras to Tanger Med and Ceuta

* Purchase closing expected in Q1 2026 subject to regulatory approvals

* No impact on 2025 financials expected

DFDS has entered into an agreement to purchase part of the assets of Naviera

Armas' Strait of Gibraltar ferry operations. Besides one combined freight and

passenger ferry (RoPax) and one high-speed catamaran ferry (HSC), the purchase

includes taking over existing permits related to route operations and around

200 employees. The asset purchase price is DKK 240m and the transaction is

subject to regulatory approvals.

"The growth of the Strait of Gibraltar ferry market has exceeded our

expectations since we entered the market in 2024. The two ferries we are

purchasing are already operating on overlapping routes and we expect to deliver

a smooth transition and an immediate enhancement of services to both passengers

and freight customers", says Mathieu Girardin, Head of Ferry Division, DFDS.

DFDS currently operates two ferry routes on Strait of Gibraltar: Algeciras-

Tanger Med and Algeciras-Ceuta. Naviera Armas' two ferries are deployed on the

same routes and the purchase expands and enhances the customer offering to both

freight customers and passengers. The expansion furthermore adds scale to

operations in a growing market.

The two ferries being purchased are the RoPax ferry Volcan de Tamasite built in

2004 and the HSC Villa de Agaete built in 1999. In addition, the capacity share

of a freight ferry (RoRo) shared among the incumbent operators on Algeciras-

Tanger Med is increased.

The capacity expansion is expected to add revenue of around DKK 500m in 2026.

The transaction is expected to close in Q1 2026 and is therefore not expected to

impact 2025 financials. The purchase is expected to be accretive to earnings in

Contact

Torben Carlsen, CEO +45 33 42 32 01

Karen Boesen, CFO +45 20 58 58 40

Søren Brøndholt Nielsen, IR +45 33 42 33 59

Dennis Kjærsgaard, Media +45 42 30 38 47

About DFDS

We operate a transport network in and around Europe with an annual revenue of

DKK 30bn and 16,500 full-time employees.

We move goods in trailers by ferry, road & rail, and we offer complementary and

related transport and logistics solutions.

We also move car and foot passengers on short sea and overnight ferry routes.

DFDS was founded in 1866 and headquartered and listed in Copenhagen.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act