WANHAI — Investor Presentation 2021

Sep 13, 2021

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Disclaimer

• The information contained in this presentation and its accompanying announcements, including content relating to business outlooks, financial operations, is based on information derived from internal corporate data and external economic developments as a whole.

• The company’s finance, business and Q&A made in this presentation could be different from the future actual results. This may be due to various factors including but not limited to market demand, changes in policies and regulations and overall economic conditions, and other factors or risks beyond the Company’s control.

• The Company is not responsible for updating or amending changes or adjustments made to the contents of this presentation, if such changes or adjustments should occur in the future.

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Outline

• Company Overview

• Performance Update

• Appendix

• Q&A

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Company Overview

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Global Service Network

• Vessels (As of end-Jun 2021)

• Operating 146

• 413,296 TEUs of total Capacity (As of end-Jun 2021)

• Ranking as Top10 Global liner by Capacity

(Source from Alphaliner as of end-Jun 2021)

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Intra Asia Services

• 43 Dedicated Service Routes

• The Best in Service coverage and frequency

• 15% of Intra Asia Market Share

• 65% of Lifting Volume

(As of end-Jun 2021)

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High Percentage of Owned Vessels/Containers

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Vessels(Ships) Containers(TEU)
Leased
Containers
22%
Chartered Owned Owned
Vessels Vessels Containers
44% 56% 78%
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• Operating high percentage of owned vessels (56%) and owned containers (78%) to control fixed cost effectively.

(As of end-Jun 2021)

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Strategic Highlights

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• Mitigating operation cost

• Low fixed cost structure

• Competitive handling costs driven by significant cargo volumes in key terminal hubs

• Comprehensive service network

• Intra Asia network leverages high-growth, multi-directional cargo volumes

• Long-haul volumes fueled by China exports and regional feeder network

• Yield Management

• Well diversified customer base

• Direct service network

• Volume growth nourished by Port-to-port cargoes

Date	Service	Network	Capacity
2021/1	CV7	East China – Taiwan and Ho Chi Minh	650 Teu X2
2021/4	CI8	South China – Vietnam and West India	2,100Teu X4
2021/5	TVT2	Taiwan – Thailand – Vietnam	1,050Teu X2
2021/5	AS1	Asia – South America	2,200Teu X10

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TransPacific Service Expansion

Launch four weekly services from Asia to USWC. In response to the surge in cargo demand, four new services commenced in mid-March.

－ － － AA1 : Shanghai Ningbo Los Angeles Shanghai

－ － － － AA2 : Kaohsiung Yantian Long Beach Yantian Kaohsiung － － － － － AA3 : Haiphong Cai Mep Hong Kong Yantian Xiamen － － Long Beach Shekou Haiphong － － － － － AA5 : Kaohsiung Yantian Shanghai Ningbo Seattle － Oakland Kaohsiung

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Asia to US East Coast(AA7)

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Launch a new weekly service between Asia and the East Coast of North America (AA7). The first voyage is scheduled to commerce at TAIPEI on June 18, 2021

－ － － AA7 : Taipei Xiamen Shekou Caimep- New York － Savannah Taipei

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Newbuild Vessel Orders	Newbuild Vessel Orders	Newbuild Vessel Orders	Newbuild Vessel Orders
	Shipyard	**Size(TEU) **	Total amount	Delivery
	JMU (Japan)	8x 3,036	USD 334M	2020-21
Guangzhou Wenchong		12x 2,038	USD 316M	2021-22
	JMU (Japan)	12x 3,013	USD 565.2M	2022-23
	Hyundai Heavy Industries	5x 13,200	USD 562M	2023
	Samsung Heavy Industries	4x 13,100	USD 445.6M	2022Q4- 2023Q1
	Samsung Heavy Industries	4x 13,100	USD474M ~USD500M	2023Q2- 2024Q1
	NSY/JMU (Japan)	12x 3,055	JPY 60.84Bn~ JPY 64.80Bn	2023/07~

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Newbuild Delivery Schedule

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Delivery
2021 2022 2023 2024 Total
(Year)
Ships 11 12 20 9 52
Capacity
26,486 52,630 162,298 37,640 279,054
(TEU)
6 newbuild vessels delivered as of end-Jun 2021, increasing capacity 16,296 TEU.
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Second-Hand Vessel Purchases

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	Vessel Name			Design (TEU)		Delivery
	WAN HAI 521/522/523			4,1782 4,2551		2021H1
	WAN HAI 621/622/623			6,350*3		2021Q1
	WAN HAI 625			6,030		2021Q3
	WAN HAI 626			5,642		2022Q1
	WAN HAI 721/722			7,241*2		2021Q2
	WAN HAI 723			7,241		2021Q4
	Total Capacity			65,056

*8 second-hand vessels delivered as of end-Jun 2021, increasing capacity 46,143 TEU.

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New Container Purchases

	Containers(TEUs)	Total Amount	Delivery
	52,000	USD101M	2020Q4- 2021Q1
	50,000	USD141.7M	2021Q2
	32,000	USD99.6M	2021Q2
	50,000	USD151.88M	2021Q3

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Well-Diversified Customer Base

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• More than 300,000 clients that are diversified by geography and industry

• In 2021H1, no single customer accounted for more than 2% of WHL’s volume or consolidated operating revenues

• WHL’s customers include retailers, manufacturers of automobiles, automotive parts, chemicals, machinery and electronic products as well as freight forwarders and agents

• Both Taiwan- based enterprises as well as companies with multinational operations

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Key Terminal Investments

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1987 – Opened Pier 63 terminal in Kaohsiung

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1996 – Opened Pier 31 terminal in Taichung

2003 - Opened Ohi-5 Terminal in Tokyo, Japan

2009 – Opened Taipei Port project with JV partners, Evergreen and Yang Ming Lines

2010 - Opened Caimep, Vietnam Port project with JV partners, SNP, MOL and Hanjin Transportation

2018 -Opened Haiphong, Vietnam Port project with JV partners, SNP, MOL and ITOCHU

2019- Purchase Vietnam Da Nang Port Joint Stock Company stock (20%)

2023- Open Pier 79~81 terminals in Kaohsiung

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Performance Update-1H21

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Income Statement Highlights

ITEMS (US$M)	1H21	1H20	YoY
Operating Revenue	3,100.19	1,144.38	+171%
Gross profit	1,568.40	144.60	+985%
Operating Income	1,446.95	75.76	+1,810%
Profit,attribute to owners of theparent	1,205.55	58.92	+1,946%
EPS (NTD)*	15.19	0.79	+1,823%

*Weighted average outstanding shares were 2.22 bn units as of end-Jun 2021.

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Financial Results(1H21 vs.1H20)

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Revenue Gross Profit
+171
+985%
3,100.19 1,568.40
%
USD$M USD$M
EPS
Net Profit
1H21 1H20
1,205.55 +1,946
% NT$15.19 NT$0.79
USD$M
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Volume & Revenue-Quarterly

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Revenue (USD$M) Volume ('000 TEU)
1,800 1,400
1,350
1,600
1,300
1,400
1,250
1,200 1,200
1,150
1,000
1,100
800
1,050
600 1,000
950
400
900
200
850
- 800
2Q20 3Q20 4Q20 1Q21 2Q21
('000 TEU)
Revenue (USD$M) Volume
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2Q21 Operating revenue YOY +216% (USD)
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• 2Q21 Lifting Volume YOY +29%

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Revenue Breakdown

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-US+ WCSA accounted for 40.2% of 1H21 revenue

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1H21 1H20
Middle Middle
East/India East/India
20.0% 20.6%
Intra Asia
South Intra Asia
South America
39.8%
America 67.6%
6.6%
12.4%
USA
USA
27.8%
5.2%
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Lifting Breakdown

• US+ WCSA accounted for 16.8% of 1H21 lifting volume

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1H21 1H20
South America South
4.5% America Middle
Middle
3.0% East/India
East/India
16.2%
18.2%
Intra Asia Intra Asia
USA
USA 65.1% 3.1% 77.7%
12.3%
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Freight Rate

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USD

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4,000
South America USA Middle East/India Intra Asia
3,500
3,000
2,500
2,000
1,500
1,000
500
0
1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21
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Cost Structure

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1H21 1H20
Others Terminal
Others Terminal
19.4% Handling
22.3% Handling
33.5%
31.3%
Adm Cost
6.4%
Adm Cost
7.3%
Bunkerage
Bunkerage
Container 20.9% Container
20.2%
Related Related
8.1% Vsl Charter Hire 9.2%
Vsl Charter Hire
5.3%
5.5%
Port Charges Port Charges
4.6% 5.9%
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Remark: Others includes items such as WHL terminal, vessel repair, crew expenses, slottage and commission

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Bunker Costs

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Singapore Bunker Price:
USD/TON
Bunker Cost : USD $M
600
280
550
500 240
450
200
400
160
350
300 120
250
80
200
40
150
100 0
1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21
Singapore Bunker Price: USD/TON Bunker Cost (inc.all oil types)
( before 2020: IFO380 Singapore/
after 2020 : 0.5% VLSFO Singapore)
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Bunker Cost : USD $M

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Capital Expenditures Schedule

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USD$M
1,400
Actual $1,292M Expected
1,200
1,000
$853M
800
$678M
600
400
200
-
2015 2016 2017 2018 2019 2020 2021 2022
Vessel Terminal Equipment Container Box Office
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Fuel Spread-VLSFO vs HSFO

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Source: Alphaliner Monthly Monitor Report August 2021

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3 Appendix

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ESG-Gas Emissions Management
(CO2)
2008 2020 2030 2050
• Base • Actual • Target • Target
Year Reduction Reduction Reduction
33% 41.5% 70%
Better than the IMO goal :
reduction 40% by 2030
Fleet CO2 emission rate(g/TEU-KM)
150.0
109.9
95.0
90.0
100.0 83.7
80.6 78.6
74.1
64.3
↓70%
50.0
27.6
0.0
2008 2010 2012 2014 2016 2018 2020 2030 2050
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ESG -Concrete Measures

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ITEMS	What We Do
Newbuild vessels	The EEDI for new ships is the most important technical measure and aims at promoting the use of more energy efficient (less pollution) equipment and engines. (Complywith IMO Tier 3 standard).
	Adopt new EFI main engine, combined with high- efficiency propeller, propeller boss cap-fin and new efficiency bulbous bow. All above measures not only meet environmental regulation but also achieve the goal of energysavingand carbon reduction.
High-Performance Paint	The use of high-performance paint on the outer plate of vessel to reduce resistance, fuel saving is approx. 7%/yr of whole fleet.
Voyage Optimization	Under the premise of safety, formulate the most optimal voyage plan according to the service specific feature and data from weather routing software. Ship sail with the most economical RPM to exert the higher efficiencyand save the fuel.
Low-sulfur fuel adoption	All fleet using low-sulfur fuel to reduce SOx emissions andprevent environmentalpollution.

ESG-Gas Emissions Management (NOX) Fleet NOX intensity in 2020 was 1.14 (g/TEU-KM) Compared with 2008, it decreased by 47.6%。

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Fleet NO
X intensity
2.50 2.17 (g/TEU-KM)
2.00
1.52 1.47 ↓47.6%
1.40
1.50
1.14 1.14
1.06
1.00
0.50
0.00
2008 2010 2012 2014 2016 2018 2020
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33 ESG-Gas Emissions Management (SOX)

Fleet SO X intensity in 2020 was 0.22 (g/TEU-KM) Compared with 2008, it decreased by 91%。

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Fleet SO
X intensity
3.00
(g/TEU-KM)
2.46
2.50
2.12
2.01
1.88
2.00
1.49
1.38
1.50
↓91%
1.00
0.50
0.22
0.00
2008 2010 2012 2014 2016 2018 2020
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ESG-Smart Ship Notation

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•
New ship design is aimed to offer significant benefits in efficiency and reducing CO2 emissions.
•
Smart ship system can monitor our fleet and transmit to Wan Hai Eagle-eye during the voyage for
safe operations.
•
Implement a digital management platform to prevent and detect irregularities.
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ESG-Crew Management

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Human-centered
Precautions Crew health
management
• Compensated for pre- • Provides Access • Advocate for
sign on quarantine to VSAT/Internet Unencumbered
and testing protocols Crew Changes
• Strictly implement • Provide Medical • Average service time
gangway control Consultation at of 9 months (Less
sea
• Sufficient epidemic- than MLC regulation
prevention supplies of 12 months)
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ESG-We carry, We care!

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Love without Borders

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ESG-We carry, We care!

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Concern For Human Rights

Wan Hai subscribes to and complies with international human rights norms and principles, including the

“Universal Declaration of Human Rights proclaimed by the United Nations” and the core labor standards laid down in the “Fundamental Conventions of the International Labor Organization".

Employee Benefits and Training

In 2020, the company provides training course 12.2 hours per head for staff ashore and 91 marine specialized courses for sea crew. Moreover, the company offer the best salaries and benefits superior to others in marine industry. During the Covic-19 outbreak, Wan Hai also free provides all kinds of prevention materials to employees, crew, volunteers, disadvantaged families and units.

Charity

Wan Hai Anti-epidemic donated medical supplies (masks, protective clothing, gloves, shoe covers, respirator oxygen generators, medical beds) to 84 public hospitals in India, Thailand, Indonesia, Vietnam, Malaysia and other countries with severe epidemics, and provided free medical assistance Materials to India, donated 32 Japanese negative pressure isolation chambers in Taiwan, disinfection materials (alcohol, wet wipes, hand sanitizer, mask filters, equipment, etc.) and donated to the needy units (medical, education, disadvantaged), the total cost is more than NT$193 million, and the donation is currently ongoing.

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CSR- Charity Containers

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Container study room @Taiwan

Container classrooms @Africa

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CSR- Charity Containers

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Provide free port-to-port delivery of public welfare materials and disaster relief materials

A container is converted into a women's training classroom in Eswatini.

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CSR -First container mobile kitchen

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Charity Container Offers Immediate Relief!

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Business History

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• Started container liner services with Taiwan - Japan Trade in 1976

• Expanded Intra Asia services to include the entire East Asian market by 1993, establishing itself as the largest container liner operator in the region

• Launched East Asia- Middle East/India Service in 1998

• Launched TransPacific service in 2000 via slot purchase followed by the launch of own service the following year

• Launched Far East-Europe service in 2004

• Launched Black Sea service in 2007

• Launched East Africa service in 2010

• Launched S. Africa/East Coast S. America Service in 2010

• Launched West Coast S. America Service in 2011

• Launched Independent Mindanao Service, Far East to Pakistan / Mundra Express Service in 2014

• Launched Independent Kansai / Haiphong Service II, Independent South China / Vietnam / Malaysia Service in 2015

• Launched China – India Service II (CI2) in 2016

• Launched Independent Cambodia Service in 2017

• Launched Red Sea Service/ Indonesia-Malaysia/Japan-Korea/New China-Vietnam service in 2018

• Launched Haiphong-Pacific service/China-Philippines service/China-Vietnam and Cambodia service in 2019

• Launched Straits ‒ Bangladesh Express/China –Thailand and Vietnam Service in 2020

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Core Values of WAN HAI

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1. Top the global liner schedule reliability survey.

2. Seven-time winner of “ CONTAINER SHIPPING LINE OF THE YEAR – FAR EAST TRADE LANE “ & Award “HALL OF FAME-CONTAINER SHIPPING LINE OF THE YEAR” in 2019.

3. Four-time winner of “ CONTAINER SHIPPING LINE OF THE YEAR “ from Lloyd's List Maritime Asia Award.

4. Winner of “ BEST SHIPPING LINE – INTRA ASIA “ in 2015 and “ BEST GREEN SHIPPING LINE “in 2016 from Asia cargo news, AFLAS.

5. Two-time winner of “ MOST ADMIRED COMPANY “ in maritime shipping category from Common Wealth

Magazine.

1. Five - time winner of “GREEN FLAG “ from port of Long Beach , CA.

2. Younger average container age ( 4.2 years ) than that of the industry ( 6.8 years ) from Drewry 2019.

3. Widely -recognized with most comprehensive service network in intra Asia.

4. 9.Balanced financial structure and steady operating status.

10.Integrity and People-oriented service.

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Awards

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Environment -Safety and Health

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4 Q&A

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