Tallink Grupp — AGM Information 2014

Jun 9, 2014

Annual General Meeting

1. June 2014

2. 1. Approval of the Annual Report of 01.01.2013 - 31.12.2013 of AS Tallink Grupp.

3. 2. Distribution of profits.
4. 3. Nomination of an auditor and determination of the procedure of remuneration of an auditor.

Tallink's passenger market share is 47% of the Northern Baltic Sea

• Increase in cargo volumes
• Decrease of passenger numbers
• Weak economic environment in the region
• Changed competitive landscape
• Net profit EUR 43 million

Continuous debt reduction

GDP Growth	2012	2013
Finland	-1.0	-1.4
Sweden	0.9	1.6
Estonia	3.9	0.8

The main goals of the strategy that is directed toward increasing Tallink's value and profitability:

• Increase the volumes and strengthen the market position in the region
• Strive for the highest level of customer satisfaction
• Develop a wide range of quality services for different customers and to pursue new growth opportunities

• Optimal debt level that allows sustainable dividends

• Switch to lower sulfur content MGO (marine gasoil)

• Add exhaust scrubbers to the vessels
• Convert or build ships using LNG (liquefied natural gas) technology

Shareholders' equity per share

• 1. Approval of the Annual Report of 01.01.2013 - 31.12.2013 of AS Tallink Grupp.
• 2. Distribution of profits.
• 3. Nomination of an auditor and determination of the procedure of remuneration of an auditor.

(1) EBITDA – earnings before net financial items, share of profit of equity accounted investees, taxes, depreciaton and amortization.

	EUR million	2012	2013
Cash flows from operating activities		163	168
Investments		-9	-43
New loans		440	158
Redemption of loans		558	198
Total net cash flow		-10	6
Cash at the end of period		66	72

Financial position	31.12.2012	31.12.2013	change
Assets (EUR million)	1 742	1 722	-0.1%	Cash Other assets	Other liab.
Intrest bearing liabilities (EUR million)	840	794	-5.5%		Share holders equity
Shareholder's equity (EUR million)	761	771	1.3%	Ships Ships	Loans
					Loans
Shareholder's equity per share	1,14	1,15	1.3%
Equity ratio	44%	45%		Assets	Liabilities & Equity

The net debt of Tallink has decresed by over EUR 400 million since the peak of 2009

• 1. Approval of the Annual Report of 01.01.2013 - 31.12.2013 of AS Tallink Grupp.
• 2. Distribution of profits.

• 3. Nomination of an auditor and determination of the procedure of remuneration of an auditor.

• 1. Approval of the Annual Report of 01.01.2013 - 31.12.2013 of AS Tallink Grupp.

• 2. Distribution of profits.
• 3. Nomination of an auditor and determination of the procedure of remuneration of an auditor.

		Q1 2013	Q1 2014	Change
Number of passengers	thousand	1 895	1 906	0.5%
Cargo Units	thousand	67	77	14.6%
Net Sales	(EUR million)	191	188	-1.2%
EBITDA	(EUR million)	7	4	-36.4%
Net profit/-loss	(EUR million)	-18	-23
Cash flows from operating activities	(EUR million)	5.9	-1.5
Investments	(EUR million)	3.4	14.1
Redemption of loans	(EUR million)	-19	-15
Cash at the end of period	(EUR million)	83	63	-30.0%
Net debt (as of the end of the 1st quarter)	(EUR million)	781	749	-4.1%

44 Net profit 43 million 2013 2014

Typical to the Tallink business model the result is made in the summer high season

20

30

40

50

Cash outflow 2014

• Scheduled loan re-payments EUR 90 million
• Upgrades to the vessels over EUR 20 million
• Capital expenditure and maintenance
• Interest

• Dividends

• 1. Approval of the Annual Report of 01.01.2013 - 31.12.2013 of AS Tallink Grupp.

• 2. Distribution of profits.
• 3. Nomination of an auditor and determination of the procedure of remuneration of an auditor.