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Hamburger Hafen und Logistik AG: Tollerort to become preferred hub for COSCO services

DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Investment Hamburger Hafen und Logistik AG: Tollerort to become preferred hub for COSCO services 21.09.2021 / 10:45 The issuer is solely responsible for the content of this announcement. Hamburg, 21 September 2021

_{Hamburger Hafen und Logistik AG}

Tollerort to become preferred hub for COSCO services

• COSCO Shipping Ports receives minority share of 35 percent in CTT
• Partnership creates long-term planning and employment security for HHLA
• Hamburg's position as a Central European hub for trade with China to be strengthened

Hamburger Hafen und Logistik AG (HHLA) and COSCO Shipping Ports Limited (CSPL) successfully concluded negotiations about a strategic investment by CSPL in HHLA Container Terminal Tollerort (CTT) today. CSPL, a terminal operator listed on the Hong Kong stock exchange and member of the COSCO Shipping Group, takes on a 35 percent minority share in the Hamburg container terminal.

HHLA expects the participation to strengthen the relationship with its Chinese partner, as well as long-term planning security for Container Terminal Tollerort and secured capacity and employment in the Port of Hamburg. With the minority interest of CSPL, CTT will become a "preferred hub" in Europe, meaning it will be the preferred transshipment point for COSCO, where cargo flows will be concentrated.

Angela Titzrath, Chairwoman of HHLA's Executive Board: "The maritime world is currently facing intense changes. Long-term, trusting customer relationships - like the ones HHLA has tended to for 40 years in trade with China - are that much more important now. The first Chinese vessel was processed at Tollerort back in 1982. Since then, the terminal has become a hub for liner services of what is now COSCO Shipping Lines. Against this background, HHLA and COSCO equally pursue the goal of successfully securing the future of CTT and an even more efficient dovetailing of Chinese logistics flows in Hamburg."