Global Ports Investments : Q3 and 9M 2021 Operational results

Global Ports Investments PLC

Q3 and 9m 2021 Operational Results

Global Ports Investments PLC ("Global Ports" or the "Company" and, together with its subsidiaries and joint ventures, the "Group") (LSE ticker: GLPR) today announces its operational results for Q3 2021 and 9m 2021 to 30 September 2021.

Highlights

• Strong market growth continued in Q3 2021 as the overall Russian container market grew by 9.0% to 1.32 million TEU, driven by both the accelerating growth of full containerised import (+9.2% y- o-y) and the continued growth of containerised export (+13.9% y-o-y).
• In Q3 2021 market growth continued to be concentrated in the Far Eastern basin (Q3 2021: +13.4%
  y-o-y) and the Southern basin (Q3 2021: +8.0% y-o-y), while combined throughput of terminals located in Saint Petersburg and the surrounding area demonstrated a slight decline of 1.5% y-o-y compared to Q3 2020.
• As a result of the strong growth seen in Q3 2021 the growth of the Russian container market accelerated to 8.0% y-o-y for the 9m of 2021 with throughput at the Far Eastern terminals increasing by 14.2% y-o-y, Southern terminals increasing by 8.8% y-o-y, while combined throughput of terminals located in Saint Petersburg and the surrounding area declined for the first nine months of 2021 by 3.3% y-o-y.
• The Group successfully continued to improve its market share position in Q3 2021 in both the rapidly growing Far Eastern basin as well as Saint Petersburg and the surrounding area. Throughput at VSC boosted the Far East's performance by 22.9% y-o-y in Q3 2021 and 19.6% in 9m 2021 (outperforming the Russian Far East market increase of +13.4% y-o-y and 14.2% y-o-y in Q3 2021 and 9m 2021, respectively). Meanwhile, the throughput of terminals in the Baltic Basin grew by 1.9% y-o-y in Q3 2021 (compared to a regional market decline of 1.5% y-o-y) and declined only by 2.2% y-o-y over 9m 2021 (compared to a regional market decline of 3.3% y-o-y.)
• In total, the Group's Consolidated Marine Container Throughput increased by 8.4% y-o-y in Q3 2021 to 401 thousand TEUs and increased by 4.0% y-o-y in 9m 2021 to 1,190 thousand TEUs.
• As previously announced, VSC ceased coal handling in September 2021 enabling the terminal to concentrate on the Group's core strategic operations of driving container volumes and decreasing its environmental impact. As a result, the Group's Consolidated Marine Bulk Throughput decreased by 36.1% y-o-y to 0.94 million tonnes in Q3 2021 and by 3% y-o-y to 3.56 million tonnes in 9m 2021.
• Heavy Ro-ro handling demonstrated a continued recovery in Q3 2021 with an 11.5% y-o-y growth to 6.0 thousand units. Car handling was also strong in Q3 2021 with a 50.2% growth to 27.8 thousand units.

Albert Likholet, CEO of Global Ports Management, commented:

"The Russian container market remains strong across all segments. In the third quarter, we were encouraged not only by strong import volumes but also by the acceleration of full export growth to almost 14%. Our large well-equipped terminals with strong railway connections in the North West are well prepared for such containerised export growth acceleration.

Our immediate operational focus is on VSC, which this September operated under an environment of exceptionally high and rapidly changing demand dynamics whilst undergoing the transition back to a 100% container dedicated facility with advanced terminal operating software. We believe that we are

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firmly on track to offer our clients the same high level of service as we provide in North West that has enabled us to consistently improve our market position over the last several years."

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Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container throughput.1

Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign Russian trade and transit cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal2 and Moby Dik3 in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland4 (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino Logistics Park5 located in the vicinity of St. Petersburg.

Global Ports' revenue for the first half 2021 was USD 229.8 million and Adjusted EBITDA was USD

113.8 million. Consolidated Marine Container Throughput was 789 thousand TEU in the first half of

2021.

Global Ports' major shareholders are Delo Group, the largest intermodal container and port operator in Russia6 (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operate a terminal network of 75 terminals globally. 20.5% of Global Ports shares are traded in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).

DEFINITIONS

First Container Terminal (FCT) is located in the St. Petersburg harbour, Russia's primary gateway for container cargo and is one of the first specialised container terminals established in Russia. The Global Ports Group owns a 100% effective ownership interest in FCT. The results of FCT are fully consolidated.

Moby Dik (MD) is located on the St. Petersburg ring road, approximately 30 kilometres from St. Petersburg, at the entry point of the St. Petersburg channel. It is the only container terminal in Kronstadt. The Global Ports Group owns a 75% effective ownership interest in MD, CMA Terminals currently has a 25% effective ownership interest. The results of MD are accounted in the Global Ports' financial information using the equity method of accounting (proportionate share of net profit shown below EBITDA).

1 Company estimates based on 1H 2021 throughput and the information published by the "ASOP".

1. In which Eurogate currently has a 20% effective ownership interest.
2. Joint venture in which CMA Terminals currently has a 25% effective ownership interest.
3. Joint ventures in each of which CMA Terminals currently has a 25% effective ownership interest.
4. Joint venture in which CMA Terminals currently has a 25% effective ownership interest.
5. According to publicly available data atwww.delo-group.com.

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Petrolesport (PLP) is located in the St. Petersburg harbour, Russia's primary gateway for container cargo. The Group owns a 100% effective ownership interest in PLP. The results of PLP are fully consolidated.

Ro-Ro,roll on-rolloff is cargo that can be driven into the belly of a ship rather than lifted aboard. Includes cars, buses, trucks and other vehicles.

Revenue per TEU is defined as the Global Ports Group's Consolidated Container Revenue divided by total Consolidated Container Marine Throughput.

TEU is defined as twenty-foot equivalent unit, which is the standard container used worldwide as the uniform measure of container capacity; a TEU is 20 feet (6.06 metres) long and eight feet (2.44 metres) wide and tall.

Ust Luga Container Terminal (ULCT) is located in the large multi-purposeUst-Luga port cluster on the Baltic Sea, approximately 100 kilometres westwards from St. Petersburg city ring road. ULCT began operations in December 2011. The Global Ports Group owns an 80% effective ownership interest in ULCT, Eurogate, the international container terminal operator, currently has a 20% effective ownership interest. The results of ULCT are fully consolidated.

Vostochnaya Stevedoring Company (VSC) is located in the deep-water port of Vostochny near Nakhodka on the Russian Pacific coast, approximately eight kilometres from the Nakhodka-Vostochnaya railway station, which is connected to the Trans-Siberian Railway. The Group owns a 100% effective ownership interest in VSC. The results of VSC are fully consolidated.

Yanino Logistics Park (YLP) is the first terminal in the Group's inland terminal business and is one of only a few multi-purpose container logistics complexes in Russia providing a comprehensive range of container and logistics services at one location. It is located approximately 70 kilometres from the Moby Dik terminal in Kronstadt and approximately 50 kilometres from PLP. The Global Ports Group owns a 75% effective ownership interest in YLP, CMA Terminals currently has a 25% effective ownership interest. The results of YLP are accounted in the Global Ports' financial information using the equity method of accounting (proportionate share of net profit shown below EBITDA).

LEGAL DISCLAIMER

Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of Global Ports. You can identify forward- looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" or the negative of such terms or other similar expressions. Any forward- looking statement is based on information available to Global Ports as of the date of the statement and, other than in accordance with its legal or regulatory obligations, Global Ports does not intend or undertake to update or revise these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements involve known and unknown risks and Global Ports wishes to caution you that these statements are only predictions and that actual events or results may differ materially from what is expressed or implied by these statements. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Global Ports, including, among others, general political and economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries Global Ports operates in, as well as many other risks related to Global Ports and its operations. All written or oral forward-looking statements attributable to Global Ports are qualified by this caution.

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