Results of 2022 Q1

Webinar 10.05.2022

Presenters

Valdo Kalm CEO Chairman of the Management Board

Andrus Ait CFO Member of the Management Board

Q1 2022 main events

MPSV Botnica charter for summer 2022
Compromise agreement with Tallink
Change in the management board and in the supervisory boards of the subsidiaries – new CFO Andrus Ait
Cruise terminal Grand Prix of the annual architecture award and Concrete building of 2021
Partnership of the Baltic Sea ports for establishing green transport corridors
First building title agreement in Old City Harbour Laeva 5 restaurant building

Trends in Q1

by business segments

• PASSENGERS – steep rise in PAX numbers (+140%) and revenue (+21%). Growth in rental fees

• CARGO – decline in volumes (-8%) and stable revenue. Change in the structure of cargo volumes – ro-ro caught up with liquid bulk. EU sanctions to Russia

FERRY revenue growth (+9%) from indexation and additional trips.
OTHER segment MPSV Botnica stable revenue and utilization rate (100%)

Passenger and cargo volumes

334 801 0 373 896 0 100 200 300 400 500 600 700 800 900 1 000 2021 Q1 2022 Q1 Thousand PAX Tallinn-Helsinki Tallinn-Stockholm Muuga-Vuosaari Tallinn-St.Petersburg Cruise (traditional) Other +140%

2,1 1,7 1,5 1,7 1,1 0,7 0,4 0,6 0,1 0,2 5,3 4,8 0 1 2 3 4 5 6 2021 Q1 2022 Q12 Million tons Liquid bulk Ro-Ro Dry bulk Containers General cargo -8%

Passengers

Cargo

Shipping volumes

269 323 158 178 0 50 100 150 200 250 300 350 2021 Q1 2022 Q1 Thousand PAX/vehicles passengers vehicles

Ferries

MPSV Botnica

Future outlook Affecting factors

Recovery from COVID-19 still impact on passenger business
Sanctions against Russia and Belarus
Energy prices and climate change action – rising input cost, but new opportunities in green energy business projects

Results of the Group

in Q1

Q1 2022	Q1 2021	+/-	%
26 771	24 988	1 783	7.1%
13 482	13 022	460	3.5%
50.4%	52.1%	-1.7	-
7 217	7 221	-4	-0.1%
0	0	0	-
7 191	6 844	347	5.1%
4 697	3 640	1 057	29.0%

Results by business segments

in Q1

Q1 segments (mEUR)

Cash Flow and Financial Position

Cash Flow statement

In thousands	Q1 2022	Q1 2021	+/–
Cash from operating activities	14 871	15 015	–144
Cash used in investing activities	–5 339	–4 760	–579
Free cash flow (FCF)	9 532	10 255	–723
Cash from/used in financing activities	–3 358	–3 491	-133
NET CASH FLOW	6 174	6 764	–590
NET DEBT (at the end of the period)	159 300	175 137	-15 837