Tallink Grupp As · OMXTSE:TAL1T
Tallink Grupp As — AS Tallink Grupp — Q3 2025 Earnings Presentation
33 slides from Tallink Grupp As's earnings presentation, October 2025
Slide 1: AS Tallink Grupp
AS Tallink Grupp October 2025
Slide 2: Key facts about Tallink Grupp
Tallink Grupp KEY FACTS ABOUT TALLINK GRUPP The leading European provider of leisure and business travel and sea transportation services in the Baltic 11 vessels 5 regular routes Sea region. 9 passenger vessels on the Baltic Sea 1 shuttle vessels 3 vessels in charter 3.5 million 2 in the Netherlands
Slide 3: Strategic plan
Strategic plan LONG TERM OBJECTIVES TOWARDS INCREASING THE COMPANY VALUE AND PROFITABILITY • Strive for the highest level of customer satisfaction • Improve profitability and strengthen the leading position on our home markets • Develop a wide range of quality services directed at different customer
Slide 4: Highlights and milestones
Highlights and milestones Operations Restaurant operations o—____. burr unc SH Fiver sweden 4B SD tee- sen Ab Find 1@ Bi exoxio sweden B en @— iotel operations Newbuilt vessels 1 1 € 1484 | m Baltic Queen Acquisitions 1 (3) 1 € 968m ‘ Baltic Princess exits supanter aso oe. Star MyStar ' Secondony 1
Slide 5: Fleet composition & deployment
Fleet composition & deployment Tallinn - Helsinki Tallinn - Stockholm Helsinki - Stockholm Chartered Megastar Baltic Queen Silja Symphony Galaxy I Vessel type High-speed ro-pax Vessel type Cruise ferry Vessel type Cruise ferry Vessel type Cruise ferry Built/renovated 2017 Built/renovated 2009 Built/
Slide 6: Routes & passengers
Routes & passengers Passengers in 2024 Finland 47% Estonia 23% Europe 10% Sweden 7% Asia 4% Latvia 2% Lithuania 2% Other 5% 6
Slide 7: Passenger operations market share
Passenger operations Turku - Stockholm market share 46% 45% 42% 49% 60% 71% Northern Baltic passenger market 75% ~14 million passenger in 2024 54% 55% 58% 51% 40% 29% 25% 2018 2019 2020 2021 2022 2023 2024 Tallinn - Helsinki Helsinki - Stockholm Tallink 7% 17% 17% 17% 21% 21% 17% 24% 27% 27% 29% 28%
Slide 8: Cruise ferry
Cruise ferry 927 cabins, 2800 passengers Buffet Nightclub Tango lounge Conference Shops, pubs, restaurants Show bar
Slide 9: Shuttle vessel
Shuttle vessel _J--—._ SS ee. > “" "“TALLINK S-7e ————— SERVICE & SHOP SERVICE & PROVISION PASSENGERS RORO Wi
Slide 10: Business model
Business REVENUE STRUCTURE 2024 model Product offering Cargo 11% RETAIL AND LEISURE SIDE Restaurant & shop sales Accommodation • Onboard Catering 48% 2% • Onboard Tax-Free Shopping Charter • Hotel & Travel Packages 8% INFRASTRUCTURE SIDE Other 2% • Overnight Cruises & Passenger Trasnportation • Carg
Slide 11: Position in the global ferry market
Position in the global ferry market THE WORLD'S TOP DUTY FREE & TRAVEL RETAIL SHOPS FERRY OPERATOR BY GROSS TONS Rank Company Gross tons 1 Grimaldi Group 1,199,747 Ranking by actual retail sales in 2024 2 Stena Line 973,572 3 Grand Navi Veloci 831,514 Turnover 4 Onorato Armatori S.p.A 653,805 Rank L
Slide 12: Shop brand portfolio
WeSAINTAURENT BALLY Pau: Bor VERSACE CLARINS aituas... ESTEE LAUDER FERY CAROLINA HERRERA SENSAT victorivox DOICEsGABBANA Paco rabanne ianectredale SD Jo MALONE Dior MARMARA Boss THE SKINCARE MAKEUP™ SLFJAKOBS LINDBERGH Alexander McQUEEN ElizabethArden =SHLVEIDO , POLO TOMFORD MICHAEL KORS CS AK Tom
Slide 13: Dining concepts on our vessels
Dining concepts on our vessels Our brands and international premium brands BUFFET RESTAURANTS FINE DINING RESTAURANTS À LA CARTE RESTAURANTS QUICK SERVICE RESTAURANTS 13
Slide 14: Safety, security and environmental protection are a high priority
Safety, security and environmental protection are a high priority
Slide 15: Sustainability focus areas and goals
Sustainability focus areas and goals 15
Slide 16: Focus on Innovation
Focus on Innovation Tallink Grupp is investing in innovation and TOTAL CO2 EMISSIONS technology for the Baltic Sea including: 1200 • 0.5 billion euros in eco-friendly vessels 1000 and • 20 million euros in green technologies. 800 The 62% reduction in CO2 emissions has been achieved by investing in:
Slide 17: Policies and certifications
Policies and certifications • ISO 14001:2015 Environmental Certificate by Lloyds Register • International Anti-Fouling System Certificate • MARPOL International Energy Efficiency Certificate • MARPOL International Sewage Pollution Prevention Certificate • MARPOL International Air Pollution Preventio
Slide 18: Employees of Tallink Grupp
Employees of Tallink Grupp As of December 31, 2024 Emplyee split by countries 3005 w — 4h uy 953 Empl + ae = L847 ou wy w? 7.8 Average years spent in the company Employees iH on-shore 1760 & Employees on-board 3087 VY TALLINK | SILJA LINE /2 Gender split Women men 55% | 45% oOo Average age of employ
Slide 19: FY2024 revenues
FY2024 revenues Selected Key Figures 2023 2024 Change (financials in million euros) • Revenue EUR 785.8m (EUR -10.2m or -5.3% vs LY) Number of passengers 5,705,600 5,580,016 -2.2% — Strong result from Estonia-Sweden routes (EUR +6.6m Number of cargo units 323,990 303, 234 -6.4% or 7.3% vs LY) Number
Slide 20: Full year cost breakdown
Full year cost breakdown Net finance cost⁴ 3.7% (EUR millions) 2023 2024 Change Depreciation and amortisation 12.9% Cost of goods 170.6 163.9 -3.9% Cost of goods 21.6% Staff costs 131.7 142.8 8.4% Marketing & Administration (1)(2) 83.0 85.5 3.0% Other costs³ 2.1% Port & Stevedoring 69.9 73.3 4.8% Sh
Slide 21: Q3 2025 revenues
Q3 2025 revenues Selected Key Figures • Revenue EUR 233.1 (EUR +1.2m or +0.5% vs LY) Q3 2024 Q3 2025(1) Change (financials in million euros) — Solid quarter, maintaining steady growth in most key Number of passengers 1,715,496 1,766,335 3.0% operational segments despite of low consumer Number of car
Slide 22: Sales & results by geographical segments Q3 2025
Sales & results by SEGMENT SALES (in million euros) geographical 240 232 2 8.6 -7.7 0.4 -0.1 0.1 233 segments Q3 2025 200 2 160 120 • The Group accounts for 48% of passenger 80 traffic between Estonia-Finland and 36% 40 between Finland-Sweden. 0 • The Group is the only passenger traffic Q3 Estonia E
Slide 23: Sales by operational segments Q3 2025
Sales by REVENUE STRUCTURE Q3 2025(1) operational Restaurant & shop sales 45% Cargo 8% segments Q3 2025 Accommodation 3% Charter 7% • Ticket sale driven by strong demand for Other short haul travelling during peak season. 2% • Sale of cargo transportation remains challenging due to competition and T
Slide 24: Dynamics of seasonality
Dynamics of seasonality Passengers (millions) Cargo (th. units) 500 10 410 8 400 96 324 303 6 5.5 5.7 5.6 300 76 Q4 102 65 1.3 1.3 1.3 4.2 185 4 200 76 67 Q3 1.9 1.8 1.7 1.8 109 60 85 87 Q2 2 1.5 1.5 1.5 100 67 1.6 1.0 1.1 1.0 102 87 85 Q1 0 58 0 2022 2023 2024 2025 2022 2023 2024 2025 Revenue (in m
Slide 25: Dynamics of seasonality
Dynamics of seasonality Quarterly net result (in million euros) 2022 2023 2024 9M2025(1) net profit 14M€ net profit 79M€ net profit 40M€ net profit 5M€ 70 50 30 49 38 37 41 33 10 17 6 2 3 -5 -5 -3 -10 -33 -40 -30 -50 Notes: (1) 2025 unaudited Most of profits are typically earned in summer, the high
Slide 26: Consolidated income statement
Consolidated income statement In million euros 9M 2024 9M 2025 Q3 2024 Q3 2025(2) Sales 602 577 232 233 Cost of sales (1) -475 -476 -165 -166 Marketing & administrative cost (1) -71 -69 -23 -22 Other operating items, net 20 1 0 1 Result from operating activities 76 33 44 46 Income tax -9 -12 0 0 EBI
Slide 27: Consolidated cash flow statement
Consolidated cash flow statement In million euros 9M 2024 9M 2025 Q3 2024 Q3 2025(1) Operating cash flow 127 107 55 55 Capital expenditure -16 -27 -5 -5 Asset disposal 24 71 0 6 Interest received 1 0 0 0 Income tax on dividends paid -5 -5 -5 -5 Free cash flow 131 146 45 51 Debt financing (net effect
Slide 28: Consolidated statement of financial position
Consolidated statement of financial position In million euros 31.12.2024 30.06.2025(2) 30.09.2025(2) 30.09.2025(2) Total assets 1,463 1,414 1,359 Non-current assets 1,356 1,267 1,239 1400 Cash Current assets 108 147 120 Other - of which cash 19 Other liabilities 36 32 assets Total liabilities 682 71
Slide 29: Loan portfolio structure
Loan portfolio Long-term bank loans structure 700 84.2 90 • Long-term bank loans of EUR 389 million as at 30 September 2025: 600 80 16 — 3 loan agreements outstanding: 70 syndicated loan and two ship 500 60 building loans; 400 50 746 — Maturing 3 – 9 years; 663 40 300 587 555 — EUR denominated, fixe
Slide 30: 38,817 shareholders and FDR-holders
38,817 shareholders and FDR-holders incl. 29,592 on Tallinn Stock Exchange (TAL1T) and 8,226 on Helsinki Stock Exchange (FI4000349378) as at 30 September 2025
Slide 31: Shareholders and share performance
Shareholders and share performance Infortar AS 68.5% Nordea Bank Abp / Clients FDR 3.1% Mersok OÜ 1.5% Clearstream Banking AG 1.1% Retail investors Luksusjaht AS 1.0% 11% Enn Pant 0.9% Institutional Citibank (New York) / Government of Norway 0.9% investors Unicredit Bank Austria AG 0.7% 10% AB SEB B
Slide 32: Management board
Management board Paavo Négene Born in 1980 CEO since May 2018 Elise Nassar Harri Hanschmidt Born in 1991 Born in 1982 Member of Management Board Member of Management Board since March 2024 since February 2019 Piret Miirk-Dubout Margus Schults Born in 1966 Member of Management Board since April 2021
Slide 33: — eee ee
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