Wallenius Wilhelmsen

Report Publication Announcement • Feb 8, 2023

Wallenius Wilhelmsen: Updated financial targets and dividend policy

Wallenius Wilhelmsen: Updated financial targets and dividend policy

On 7 February 2023, the Board of Directors of Wallenius Wilhelmsen ASA approved new long-term financial targets, an updated dividend policy, and an updated investor relations policy. These are published on https://www.walleniuswilhelmsen.com/who-we-are/investors

“Wallenius Wilhelmsen has established long-term financial targets relevant to companies in capital intensive industries. Going forward we will regularly communicate status relative to targets for ROCE, leverage, and equity ratio, as indicators of our financial performance and solidity,” said Torbjørn Wist, CFO.

The changes in the dividend policy are not material but reflect that the board will consider the new financial targets and future capital requirements when deciding on the dividend amount. Wist says “We are committed to remunerating our shareholders competitively, and the payout ratio range in the policy remains unchanged”.

Long-term financial targets:

• Return on capital employed (ROCE) > 8%

Calculated as last twelve months of adjusted EBIT divided by the last twelve months average capital employed (total assets less total liabilities plus total interest-bearing debt)

• Leverage ratio < 3.5x

Calculated as net interest-bearing debt divided by last twelve months of adjusted EBITDA

• Equity ratio > 35%

Calculated as book value of equity divided by book value of total assets

Dividend policy:

“Wallenius Wilhelmsen’s objective is to provide shareholders with a competitive return over time through a combination of rising value for the Wallenius Wilhelmsen share and payment of dividend to the shareholders.

The board targets a dividend which over time shall constitute between 30 and 50% of the company’s profit after tax. When deciding the size of the dividend, the board will consider its financial targets and future capital requirements to ensure the implementation of its growth strategy, as well as the need to ensure that the group’s financial standing remains solid. Dividends will be declared in USD and paid out semi-annually.”

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The investor relations policy is updated as per best practice without any material changes.

For further information, please contact:

Anette Orsten, VP Global Treasury & IR

Tel: +47 980 67 912; Email: anette.orsten@walwil.com

Anette Maltun Koefoed, VP Corporate Communications

Tel: +47 975 87 999; Email: anette.maltunkoefoed@walwil.com

Pictures, please see the website:

https://www.walleniuswilhelmsen.com/who-we-are/media

About Wallenius Wilhelmsen:

The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (RoRo) shipping and vehicle logistics, managing the distribution of cars, trucks, rolling equipment and breakbulk to customers all over the world.

The company operates around 130 vessels servicing 15 trade routes to six continents, a global inland distribution network, 120 processing centers and eight marine terminals.

Headquartered in Oslo, Norway, the Wallenius Wilhelmsen group has 8,700 employees in 29 countries worldwide.

The company's purpose is to build sustainable supply chains, imagining new, more sustainable solutions for the changing world of mobility and transport on land and at sea.

Read more at walleniuswilhelmsen.com