T.S. Lines Limited — Earnings Release 2025

Apr 25, 2025

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

T.S. LINES

德翔海運有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 2510)

VOLUNTARY ANNOUNCEMENT

UNAUDITED OPERATIONAL UPDATES

FOR THE FIRST QUARTER ENDED MARCH 31, 2025

The board (the "Board") of directors (the "Directors") of T.S. Lines Limited (the "Company", together with its subsidiaries, the "Group") hereby announces the unaudited operational updates for the three months ended March 31, 2025, together with the comparative figures for the three months ended March 31, 2024, on a voluntary basis.

The Group's revenue increased by approximately $38.5\%$ from approximately US$235.0 million for the three months ended March 31, 2024 to approximately US$325.5 million for the three months ended March 31, 2025, which was primarily driven by (i) an approximately $39.1\%$ increase in overall average freight rates from approximately US$558 per TEU for the three months ended March 31, 2024 to approximately US$776 per TEU for the three months ended March 31, 2025, which was generally in line with the market rates movement; and (ii) the expansion of the Group's long-haul services. The Group's shipping volume slightly decreased from 388,802 TEU for the three months ended March 31, 2024 to 384,237 TEU for the three months ended March 31, 2025 which was mainly attributed to an increased proportion of shipping capacity being deployed in long-haul services.

The information contained in this announcement is only based on the information currently available including the internal records and unaudited consolidated management accounts of the Group, which have not been reviewed or audited by the Company's auditors.

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Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board
T.S. Lines Limited
Mr. Chen Teh-Sheng
Chairman of the Board, Executive Director
and Chief Executive Officer

Hong Kong, April 25, 2025

As at the date of this announcement, the Board comprises, (i) Mr. Chen Teh-Sheng, Mr. Chen Shao-Hsiang, Mrs. Chen Chuang Chuang-Li, Mr. To Hung-Lin and Mr. Chow Hong Man as executive directors; and (ii) Mr. Wu Youn-Ger, Mr. Chang Shan-Hui and Mr. Yang Li-Yen as independent non-executive directors.

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