Investor presentation - January 2022 - Hamburger Hafen und Logistik AG

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Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
Investor presentation

January 2022

                        © Hamburger Hafen und Logistik AG
Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
Agenda

01              HHLA at a glance                                                                                                                                 04   Fact book
                page 3

02              Investment case                                                                                                                                                   Port Logistics
                page 7                                                                                                                                                            page 25

03              Financial performance 1-9 │2021                                                                                                                                   Container segment
                and guidance 2021
                                                                                                                                                                                  page 28
                page 17
                                                                                                                                                                              Intermodal segment
Disclaimer
The facts and information contained herein are as up to date as is reasonably possible and are subject to revision in the future. Neither the Company                         page 44
nor any of its parent or subsidiary undertakings nor any of such person’s directors, officers, employees or advisors nor any other person makes any
representation or warranty, express or implied as to, and no reliance should be placed on, the accuracy or completeness of the information contained
in this presentation. Neither the Company, nor any of its parents or subsidiary undertakings nor any of their directors, employees and advisors nor any
other person shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this presentation. The same applies to
information contained in other material made available at the presentation. While all reasonable care has been taken to ensure that the facts stated                          Logistics segment
herein are accurate and that the opinions contained herein are fair and reasonable, this document is selective in nature. Where any information and

                                                                                                                                                                              page 52
statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by the
Company as being accurate. This presentation contains forward-looking statements relating to the business, financial performance and results of the
Company and/or the industry in which the Company operates. These statements generally are identified by words such as “believes”, “expects”,
“predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets” and similar expressions. The forward-looking statements,
including but not limited to assumptions, opinions and views of the Company for information from third party sources, contained in this presentation are

                                                                                                                                                                              ESG
based on current plans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results,
performance or events to differ materially from those described in these statements. The Company does not represent or guarantee that the
assumptions underlying such forward-looking statements are free from errors and the Company does not accept any responsibility for the future
accuracy of the opinions expressed in this presentation. No obligation is assumed to update any forward-looking statements. By accepting this
presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and
that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company’s
                                                                                                                                                                              page 55
business. This presentation is not a prospectus and does not constitute an offer or an invitation or solicitation to subscribe for, or purchase, any shares
of the Company and neither this presentation nor anything contained herein shall form the basis of, or be relied on in connection with, any offer or
commitment whatsoever.

                      January 2022                     Investor presentation                                                                                                                          © Hamburger Hafen und Logistik AG   2
Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
At a glance

                                       Hamburger Hafen und Logistik AG (HHLA) is a leading European
                                       logistics company. Listed on the stock exchange since 2007.

                                       With a tight network of container terminals in Hamburg, Odessa,
                                       Tallinn and Trieste, excellent hinterland connections and well-
                                       connected intermodal hubs in Central and Eastern Europe,
                                       HHLA represents a logistics and digital hub along the transport
                                       streams of the future. Its business model is based on innovative
                                       technologies and is committed to sustainability.

January 2022   Investor presentation                                                       © Hamburger Hafen und Logistik AG     3
Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
At a glance

One of Europe’s leading logistics companies
Group is divided into two subgroups: Port Logistics and Real Estate

Group

Subgroups                                                    Port Logistics                               Real Estate

Shareholder               Listed class A shares                                                    Non-listed class S shares
structure
                           Free and Hanseatic City of Hamburg (FHH)
                            holds 69.0 % of the listed class A shares
                           Class A shares comprise all segments                 69.0 %
                                                                                  Free and                    100 %
                            of the Port Logistics subgroup
                                                                                  Hanseatic City            Free and
                            (Container, Intermodal, Logistics)                    of Hamburg              Hanseatic City
                           Index affiliation: SDAX                              31.0 %                   of Hamburg
                           Stock exchanges:                                      Free float
                            Frankfurt am Main, Hamburg

Segments                               Container              Intermodal      Logistics                  Real Estate

           January 2022    Investor presentation                                                         © Hamburger Hafen und Logistik AG     4
Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
At a glance

Executive Board
Experienced management with focus on strengthening the creative power and future viability of HHLA

                                                                                Executive Board

 Angela Titzrath                                   Dr. Roland Lappin                     Jens Hansen                     Torsten Seebold
  First appointment October 2016                   First appointment May 2003            First appointment April 2017    First appointment April 2019

            Chairwoman                                 Chief Financial Officer              Chief Operating Officer              Chief HR Officer

 Corporate development                             Finance and controlling             Container operations           Human resources
 Corporate communications                           (including organisation)            Technology                     Purchasing and materials
 Sustainability                                    Investor relations                  Information systems             management
 Container sales                                   Internal audit                                                      Health and safety in the
                                                    Real Estate segment                                                  workplace
 Intermodal segment
                                                                                                                         Legal and insurance
 Logistics segment

           January 2022    Investor presentation                                                                                   © Hamburger Hafen und Logistik AG     5
Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
At a glance

Port Logistics subgroup well positioned along vertical logistic chain services
State-of-the-art container throughput and transport services supported by specialised and new logistic activities

                                                                                                                          Key figures 2020

                      Container segment                                                                     Throughput         Revenue                 Revenue share
                       Three container terminals in Hamburg with a local market share of 74 %           6,776 k TEU € 737.5 m
                       Terminals in Odessa (UKR) and Tallinn (EST); majority stake in Trieste (ITA)
                       Container handling and transfer between modes of transport (ship, rail, truck)         EBIT           EBIT margin                   58 %
                       Container-related services (e.g. storage, maintenance, repair)                     € 65.4 m             8.9 %

                      Intermodal segment                                                                     Transport         Revenue                 Revenue share
                       Container transport via rail and truck in the ports’ hinterland                  1,536 k TEU € 476.8 m
                       Loading and unloading of carriers
                       Operation of five hub terminals and nine inland terminals in CEE                       EBIT           EBIT margin                   38 %
                       Around 450 regular train connections per week with own fleet                       € 88.3 m           18.5 %

                      Logistics segment                                                                      Revenue             EBIT                  Revenue share
                       Specialist handling of dry bulk, general cargo, vehicles, fruit, etc.              € 51.4 m           € -3.9 m
                       New business activities, such as additive manufacturing,
                        airborne logistics services, etc.                                                                                                    4%
                                                                                                         At-equity earnings   EBIT margin
                       Consulting and training                                                             € 3.4 m           € - 7.5 %

       January 2022   Investor presentation                                                                                       © Hamburger Hafen und Logistik AG     6
Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
Investment case

 January 2022   Investor presentation   © Hamburger Hafen und Logistik AG   7
Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
Investment case

Investment case
At a glance

                                              THE logistical and digitally innovative hub

                                              Favourable geographical location in a market with solid growth outlook

                                              Well-invested asset base with state-of-the-art technology

                                              Solid financial foundation with strong cash flows

                                              Balanced logistics – environmental protection and sustainability approach

                                              Ambition 2025: Growth and efficiency as guiding principles

       January 2022   Investor presentation                                                         © Hamburger Hafen und Logistik AG   8
Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
Investment case

Local player well connected to Central Eastern Europe and Asia
Further internationalisation, digitalisation and automation will be main drivers for future growth
                                                                                                     NORTHERN EUROPE ‒ FAR EAST
                                                                                                              maritime

    Internationalisation
    will continue with HHLA benefitting
    from new transport routes                                                                     CONTINENTAL SILK ROAD
                                                                                                           rail

     Digitalisation & automation
                                                                                          ●
     will open up further opportunities                                           ●
     and HHLA will benefit from new                                                   ●       ●
     and optimised logistic processes          TRANSPACIFIC       TRANSATLANTIC                                                  TRANSPACIFIC

Strategic levers of HHLA
                                                                                                                 Tallinn    ●
    Strengthening the existing core business
    Exploiting growth opportunities along                                                               ● Hamburg
    transport streams of the future
    Improving efficiency by automation
                                                                                                             ●           Odessa      ●
    and growing sustainably                                                                        Trieste

    Striving for climate neutrality by 2040

        January 2022   Investor presentation                                                           © Hamburger Hafen und Logistik AG   9
Investor presentation - January 2022 - Hamburger Hafen und Logistik AG
Investment case

Dense rail network connect own port terminals within CEE and towards Asia
Favourable geographical location in markets with robust economies

                                                                 Located at Germany’s largest
                                                                  logistics hub with excellent hinterland
                                                                 Europe’s largest railway port with a
                                                                  dense rail network in CEE and the west
                                                                  to the new silk road
                                                               ● Owing 5 hubs and 12 hinterland terminals
                                                               ○
                                                                  as well as light-weighted railway wagons and
                                                                  state-of-art locomotives
                                                                 Traction with cross-border transport solutions
                                                                 Offering climate friendly modes of transport

       January 2022   Investor presentation                                                      © Hamburger Hafen und Logistik AG   10
Investment case

Well-invested asset base
Operations with state-of-the-art technology

                                                                                                                            Operating cash flow
 State-of-the-art handling technology, innovative IT systems and a high level of           Self-funded investments
                                                                                                                            Investing cash flow
                                                                                            in € million
  automation                                                                                                                   (without proceeds for
                                                                                                                               short-term deposits)

 In line with client needs: Three fully equipped berths for mega carriers in
                                                                                                                              303,0
  operation at the container terminals Burchardkai (CTB) and Tollerort (CTT)                           258,9                                 271,4
                                                                                            218,7                214,8
 Further rollout of additional automated block storage capacities at CTB
                                                                                                                   192,6
 On-dock railway stations at all facilities able to comply with future 740m block trains                                         163,8          160,0
                                                                                                         124,0
                                                                                               101,8
 Optimised traffic coordination for an improved cargo flow and terminal access
 HHLA Pure: climate-neutral handling and transport from the port to the hinterland           2016      2017      2018          2019           2020

 Rollout of additional automated block storage   Own fleet of multi-system locomotives       Own designed light-weighted wagons

         January 2022   Investor presentation                                                                         © Hamburger Hafen und Logistik AG   11
Investment case

Solid financial track record with strong cash flows even in recent years …
… with high market volatility that required exceptional operational flexibility due to Coronavirus pandemic

Equity development                                                        Ø Capital employed / ROCE                                  Since 2019:           Profit after tax and minorities
                                                                                                                                  Capital employed
in € million                                                              in € million                                                                     in € million
                                                                                                                                including right of use
      Equity ratio in %         Net debt / EBITDA                               ROCE in %                                             (IFRS16)                   EPS in €

                                                                 605                                                             1,887        1,924                                      103
                556        564                                                                                                                                                                         94
   529                                   526          512                                                           1,588
   32.3        33.5        31.7                                                                                                                                              71                                                 73
                                                                              1,149       1,154        1,216                                                    64
                                         21.9         21.5       23.6

                                                                                           13.6         15.5                                                                            1.47                       35
                                                                               12.8                                  12.9                                                                             1.34
                                                                                                                                               10.5
                                                      5.0                                                                         5.8                          0.91         1.02                                               1.02
    2.4         2.1            2.4       3.9                     3.6
                                                                                                                                                                                                                  0.50
  2016         2017        2018         2019         2020      30.09.21       2016         2017         2018        2019         2020       30.09.21           2016         2017        2018          2019       2020         9M21

Net debt                                                                  Self-funded investments                                    Operating cash flow   Dividend development
in € million                                                              in € million                                               Investing cash flow   in €    Payout ratio Dividend yield as of 31.12.
                                        1,395        1,356
    Pension provisions                                          1,308
    Lease obligations                                                                                              303                                                                         0.80
                                         496          524                                                                      271                                                                            0.70
    Net financial debt                                           502                     259                                                                                    0.67
                                                                                                                                             242
                                                                             219                      215                                                       0.59
                           706                                                                              193
   636                                                                                                                   164         165                                                                                     0.45
                576
                                                                                               124                                                              65 %           66 %
                           442           773          737                          102                                                             106                                         54 %
   453                                                           751                                                                                                                                          52 %           50 %
                442
                                                                                                                                                                 3%               3%           5%             3%              2%
   183                     264
                134                      126           95        55
  2016         2017        2018         2019         2020      30.09.21       2016         2017        2018         2019         2020         9M21              2016           2017            2018          2019            2020
                                                                           Investing cash flow without proceeds for short-term deposits                     2020: Pay out ratio adjusted by changes in net provisions

                January 2022           Investor presentation                                                                                                                                      © Hamburger Hafen und Logistik AG   12
Investment case

Sustainable management anchored in business model
Ambitious climate protection target supported by concrete measures

                                  Excellent prerequisites for green infrastructure in the Port of Hamburg
                                   Europe’s largest railway port with around 165 rail operators
                                   Efficient handling of around 200 freight trains per day with more than 5,000 wagons
                                   2020: Up to 60,000 freight trains with up to 1.6 million wagons handled at the Port of Hamburg

                                  HHLA Pure: climate-neutral handling and transport from the port to the hinterland
   Reduction of
                                   Extensive electrification and use of green electricity on the terminals
  CO2 emissions
  by at least 50%                  Transport by Metrans with CO2 optimized equipment (e.g. use of hybrid locomotives
                                    designed for heavy-duty shunting and use of light-weighted container wagons
 by 2030 (base 2018)
                                    (30% lighter than normal equipment) and “whispering” brakes for 50% reduction of noise)
                                   Unavoidable CO2 emissions are currently offset by certified development projects
  Climate neutral                   according to the highest international Gold standard
       until                       Complete conversion of the diesel-powered AGV fleet to battery-powered AGV by 2021/22

    2040
                                    >> reduction of around 15,500 tonnes a year once the system has been completed
                                   Certification of the climate-neutral container throughput and transport service by TÜV Nord

       January 2022   Investor presentation                                                                       © Hamburger Hafen und Logistik AG   13
Investment case

Committed to transparency and engaged in dialogue with stakeholders
Sustainability recognition

High standards for high transparency                               ESG ratings
                                                                                     Scale
 HHLA’s commitment to sustainability is binding, transparent,
                                                                                 (high to low)
  measurable and comparable
 HHLA supports the Sustainable Development Goals (SDGs)
  adopted by the UN                                                              AAA to CCC                          A
 HHLA applies the Global Reporting Initiative
  (GRI 4 standard) guidelines on sustainability reporting
 First maritime company to issue a declaration of compliance                      A+ to D-                        C-
  with the German Sustainability Code (DNK)
 HHLA has reported on its carbon footprint regularly since 2008
                                                                                                          On the list, but not
  as part of the international Carbon Disclosure Project (CDP)                     100 to 0
                                                                                                         yet finally assessed
 All major operating companies certified according to
  DIN 50001 (energy management)
                                                                                   A to D-                         B-
  More ESG information on                                                                                   Climate Change

  our Sustainability Report
  report.hhla.de/annual-                                                           0 to 100                        59
  report-2020/sustainability                                                                            Average performaner

         January 2022   Investor presentation                                                 © Hamburger Hafen und Logistik AG   14
Medium-term outlook

Several developments driving HHLA’s transformation process
Advanced momentum through implementation of an efficiency programme in the Container segment

Structural sector developments
                                                                                                                 HHLA’s response:
01    Ship size development                             04   Overcapacity in the North Range                     targets of the efficiency
      Increasing number of mega carriers demands             Pressure on pricing due to fierce competition
      more efficiency and operational flexibility as
                                                                                                                 programme
      well as investments
                                                             Cooperation of port authorities                     Lean and sustainable
02    Consolidation of shipping liners                  05   Consolidation of the port authorities in France,    organisational structure
      Formation of alliances leads to increased price        Belgium and the Netherlands to enhance
      and performance pressure                               efficiency
                                                                                                                 Improved productivity in line
03    Increasing degree of automation                   06   Dedicated terminals prevailed
                                                             Many shipping lines have established stakes
                                                                                                                 with customer expectations
      Share of highly automated systems such as CTA
      is steadily increasing                                 in terminals, putting HHLA multi-user approach
                                                             under pressure                                      Expansion for mega carriers
                                                                                                                 > 24,000 TEU

Hamburg-specific topics
                                                                                                                 Laying groundwork for
                                                                                                                 regaining market share
07    Nautical restrictions solved                      08   Infrastructure maintenance
                                                             Ongoing infrastructure maintenance and projects,
      Elbe dredging completed and fully approved
                                                             i.e. replacement of Köhlbrandbrücke, are on track
                                                                                                                 Reduction of emissions and
                                                                                                                 energy consumption

        January 2022   Investor presentation                                                                            © Hamburger Hafen und Logistik AG   15
Medium-term outlook

Transformation for growth and efficiency as guiding principles
New terminal design for biggest terminal in Hamburg will boost level of automation and improve efficiency

 Ambition of the
                                                 Revenue 2025                  EBIT 2025                     Capex 2021-2025
 Port Logistics subgroup

                                                € ~ 1.9 bn                € ~400 m                          € ~1.6 bn
           2025
 for

                                                                                                           thereof € ~1.4 bn cash-effective

               Current top contributing project: Transformation of the Container Terminal Burchardkai with operation running

Operational measures                                                                                      Personnel measures
 Roll-out of N4 terminal software                                                                         Net provision of € 43 m
  on all terminals by end of 2022                                                                           earmarked for socially
 Expansion of automatic block                                                                              responsible personnel
  storages from 12 in 2020                                                                                  measures
  to 22 in 2024                                                                                             – Main instrument: early
 Construction of an AGV service                                                                              retirement programme will
                                                                                                              have a positive P&L effect
  centre and testing field by 2023
                                                                                                              from 2023 onwards
 Replacement of straddle
                                                                                                            – Further instruments: flexi-time,
  carriers by AGVs from 2024
                                                                                                              reduction of overtime, education
  onwards                                                                                                     & training and re-qualification

         January 2022   Investor presentation                                                                       © Hamburger Hafen und Logistik AG   16
Investment case

Focus on three profit sources to fuel our future success
Rationale for 2025

                         Container                                       Intermodal                                    Logistics

    Increase efficiency at Hamburg                       Expansion of rail terminals and hubs,        Moderate increase expected from at-
     terminals by further automation                       i.e. Zalaegerszeg (Hungary)                   equity earnings
     –   Targets 2025: Cost savings of € >120m            Expansion of hinterland rail network in      Strong top-line growth from new
         p.a., unit costs reduction of € 30 per box,       Central and Eastern Europe by                 ventures anticipated from 2021
         performance increase by ≥ 30 boxes/Cbh            increasing frequency on existing              onwards
     –   Automation of block storages and                  connections and adding new
         horizontal transport from the quayside to         connections, particularly in Southern        Positive EBIT contribution from new
         yard via AGV                                      and South-Eastern Europe                      ventures expected for 2023 onwards
     –   Further optimisation of the existing             Taking advantage of EU green deal            Clear commitment to invest in new
         systems by using intelligent system control
                                                                                                         technologies along future transport
    Growing EBIT contribution from                                                                      streams
     international terminals

         Striving for efficiency                             Growing EBIT contribution                     Positioned for growth

          January 2022      Investor presentation                                                                         © Hamburger Hafen und Logistik AG   17
Financial performance 1-9 │2021
and guidance 2021

January 2022   Investor presentation   © Hamburger Hafen und Logistik AG   18
Financial performance

Strong increase in revenue and EBIT supported by temporary effects
Favourable growth in container transport volumes; full-year guidance for 2021 raised

                                                                                                                         Key figures for 1-9│2021
                    Major achievements
                     HHLA kept production running 24/7 despite pandemic-related restrictions
                                                                                                                      Throughput                     Transport
                     Automation of block storage at CTB continued
                     COSCO Shipping Ports receives minority stake of 35 % in Container Terminal Tollerort           5,165 k TEU                1,154 k TEU
                     HHLA became part of H2Global Foundation and successfully completed joint project                  + 1.6 %                       + 11.1 %
                      with MAN “Hamburg TruckPilot”
                                                                                                                       Revenue                           EBIT
                    Market environment
                                                                                                                     € 1,057.5 m                  € 151.3 m
                     Several effects worldwide led to persisting imbalances in trade flows, i.e. accident in Suez
                                                                                                                       + 12.8 %                       + 56.7 %
                      Canal, shutdowns at key export ports in China due to corona outbreaks, fire at a Japanese
                      semiconductor factory, power supply problems in China
                                                                                                                      EBIT margin                  Profit after tax
                     Ongoing delays in sailing schedules led to high pressure on terminals and hinterland
                                                                                                                                                   and minorities
                      transport systems                                                                                14.3 %                      € 73.1 m
                                                                                                                       + 4.0 pp                      + 133.7 %
                    Results
                     Slight increase in container throughput despite loss of a Far East service in previous year;
                      container transport grew strongly                                                                 ROCE                 Operating cash flow
                     EBIT benefited from temporary increase in storage fees and strong transport volumes              10.5 %                     € 242.4 m
                     ROCE exceeds medium- and long-term target of 8.5 %                                               + 3.7 pp                       + 29.2 %

      11 November                                                                                                                                                       19
                          Analyst conference on the interim results January to September 2021                                       © Hamburger Hafen und Logistik AG
      2021
Financial performance

               Strong rise in top and bottom line due to temporary increase in storage fees
 Container     Volume increase mainly driven by Far East as well as Americas shipping regions

Container throughput                                                          Revenue                                                Container throughput up by 1.6 % overall,
in thousand TEU                                                               in € million                                            mainly driven by Internationals (+4.8 %) whilst
                             +1.6%                                                                              +13.1%
                                                                                                                                      Hamburg volumes (+1.3 %) masked by loss of
                     5,086           5,165                                                                               620.0        Far East service in previous year
                                                                                                        548.4
                                                                                                                                     Positive volume development driven by
                                                                                                                                      − moderate increase in the shipping regions
                                                                                                                                        Far East, North America and South America
                                                                                                                                      − acquisition of an additional feeder service for
                                                                                                                                        the Baltic Sea region in the third quarter
                                                                                                                                     Average revenue per TEU up by 12.0 % y-o-y
                     9M20             9M21                                                               9M20            9M21
                                                                                                                                      mainly attributable to
                                                                                                                                      − higher storage fees due to longer dwell times
OpEx                                                                          EBIT and EBIT margin                                      as a result of ongoing delays in shipping
in € million                                                                  in € million                                              schedules
                             +6.7%                                                                              +57.2%               OpEx increased by 6.7% due to
                                     512.1                                                                               107.9        – higher external staff and material costs
                     479.7
                                                                                                                                      – additional provisions for the restructuring
                                                                                                         68.7                           measures
                                                                                                                                      – union wage rate increases
                                                                                                                                      – ramp-up costs for PLT Italy (Trieste)
                                                                                                     12.5%                  17.4%
                                                                                                                                     EBIT increased despite higher opex due to
                                                                                                                                      improved revenue quality
                     9M20             9M21                                                               9M20            9M21

             11 November                                                                                                                                                                         20
                               Analyst conference on the interim results January to September 2021                                                           © Hamburger Hafen und Logistik AG
             2021
Financial performance

               Pleasing revenue development driven by increase in rail transport volumes
 Intermodal    EBIT growth supported by one-off effect from retroactively granted higher subsidy
Container transport                                                            Revenue                                                Strong rise in transport volumes driven by
in thousand TEU                                                                in € million
                              +11.1%                                                                             +9.9%                 increase in rail transport (+14.0%) while
                                                                                                                                       road transportation kept stable
                                       1,254                                                                              383.2
                      1,129                                                                              348.7                        Rail share up to 81.4 % (+2.1 pp)
                                                                                                                                      Volume growth was broadly diversified
                                                                                                                                      Revenue increased significantly but lagged
                                                                                                                                       behind volume growth as average revenue
                                                                                                                                       per TEU came down as a result of a change
                      9M20             9M21                                                               9M20            9M21         in structure of cargo flows
                                                                                                                                      OpEx rise driven by higher personnel
OpEx                                                                           EBIT and EBIT margin                                    expenses due to increased staff base
in € million                                                                   in € million
                              +6.0%                                                                              +27.5%               EBIT development supported by
                                       303.7                                                                              79.5         −   favourable top line growth and
                      286.4
                                                                                                          62.4
                                                                                                                                       −   retroactively granted higher subsidy for
                                                                                                                                           route prices of € 11 m.
                                                                                                                                      EBIT margin increased by 2.9 pp to 20.8 %
                                                                                                      17.9%                  20.8%

                      9M20             9M21                                                               9M20            9M21

              11 November                                                                                                                                                                       21
                                Analyst conference on the interim results January to September 2021                                                         © Hamburger Hafen und Logistik AG
              2021
Financial performance

               Top line growth supported by first-time consolidation of iSAM AG
 Logistics     Profitability burdened by start-up losses of new activities
Revenue                                                                      EBIT                                           Revenue from consolidated companies
in € million                                                                 in € million
                            +36.4%                                                                          pos.             increased strongly mainly due to

                                     51.7                                                                                    ‒ first-time consolidation of automation
                                                                                                                               specialist iSAM AG (incl. its three
                     37.9
                                                                                                                               subsidiaries)
                                                                                                                             ‒ strong increase in vehicle logistics
                                                                                                                    -2.4
                                                                                                                            EBIT impacted by temporary increases in
                                                                                                    -3.6                     start-up losses of new activities
                     9M20            9M21                                                           9M20            9M21
                                                                                                                            At-equity earnings recorded a strong
                                                                                                                             increase overall
                                                                             At-equity earnings
                                                                                                           +30.2%
                                                                             in € million
                                                                                                                    2.2

                                                                                                    1.7

                                                                                                    9M20            9M21

             11 November                                                                                                                                                             22
                              Analyst conference on the interim results January to September 2021                                                © Hamburger Hafen und Logistik AG
             2021
Financial performance

                 Comfortable liquidity position secured by strong cash flow
Port Logistics

in € million

                                             Free cash: 126.1

                        274.1
                                        31.7
                        D&A
                        122.8                             107.4

                                                                                 1.1                10.0
                                                                                                               15.2                                                                                                  259.9
                        EBIT                                                                                                  25.5
                                                                                                                                                32.3                                                                   50.0
    201.3               151.3
                                                                                                                                                                                                    0.7
                                                                                                                                                                   19.1          13.9
     40.0

                                242.4                                        - 116.3                                                          - 78.2
                                                                                                                                                                                                                      209.9
    161.3               Operating cash flow                          Investing cash flow                                             Financing cash flow

 Financial             EBITDA        Working           Investments         Divestments          Changes in    Dividend      Payments       Redemption of       Redemption       Others             F/X             Financial
  fund as                           capital and                                                 short-term      paid       to minorities   lease liabilities   of (financial)   effects           effects           fund as
                                   other effects                                                 deposits                                                          loans
  of 01.01.                                                                                                                                                                                                        of 30.09.
                                                                                             Financial fund              Short-term deposits

                 11 November                                                                                                                                                                                                   23
                                  Analyst conference on the interim results January to September 2021                                                                                     © Hamburger Hafen und Logistik AG
                 2021
Guidance 2021

                  Full-year guidance has been updated
Port Logistics    Disruptions to global production and supply chains are expected to persist until 2022

 Research estimates for 2021
 GDP development                                                                                                             Throughput development
 by IMF                            April                    July              October                                        by Drewry                         March                June    September
 World                         + 6.0 %                 + 6.0 %                 + 5.9 %                                       World                          + 8.7 %              + 10.1 %      + 8.2 %
 China                         + 8.4 %                 + 8.1 %                 + 8.0 %                                       China                         + 12.4 %              + 12.0 %      + 7.1 %
 Russia                        + 3.8 %                 + 4.4 %                 + 4.7 %                                       Europe                         + 4.0 %               + 6.8 %      + 6.5 %
 CEE                           + 4.4 %                 + 4.9 %                 + 6.0 %                                       NW Europe                      + 0.3 %               + 8.1 %      + 7.6 %
 World trade                   + 8.4 %                 + 9.7 %                 + 9.7 %                                       Scan. & Baltics                + 4.1 %               + 5.6 %      + 6.9 %
Sources: IMF // Drewry Maritime Research

 Guidance for the Port Logistics subgroup 2021

                                                                       2020                            1-9│2021                                                                                    Guidance for 2021
 Container throughput                                     6,776 k TEU                          5,165 k TEU                                                                                         Moderate increase
 Container transport                                      1,536 k TEU                          1,254 k TEU                                                                                      Significant increase
 Revenue                                                   € 1,269.3 m                          € 1,057.5 m                                           Around € 1,410 m (previously: significant increase)
 EBIT                                                         € 110.3 m                            € 151.3 m                              Around € 190 m (previously: in the range of € 140 to 165 m)
 Capital expenditure                                          € 178.7 m                            € 105.3 m                              Around € 175 m (previously: in the range of € 220 to 250 m)
 Liquidity                                                    € 201.3 m                            € 259.9 m                                            sufficient to meet payment obligations at all times
 Dividend per A class share                                          € 0.45                                               commitment to pay out 50 to 70 % of net profit after minority interests
                 11 November
                 2021
                                 Analyst conference on the interim results January to September 2021              Level of intensity: slight < moderate < significant < strong              © Hamburger Hafen und Logistik AG   24
Fact book
HHLA Port Logistics subgroup
page 25

Container segment
page 28

Intermodal segment
page 44

Logistics segment
page 52

 January 2022   Investor presentation   © Hamburger Hafen und Logistik AG   25
Fact book

                   HHLA’s successful development since more than 135 years
Port Logistics     From a port logistics operator to a globally vertical integrated service provider

                                                         1992                                                           2012
                                                         HHLA’s rail affiliate Polzug sets the first commercial         Realignment of Intermodal shareholding: HHLA takes over
                                                         container block train to Eastern Europe rolling                89% stake in METRANS and gets full control of Polzug
  1885                                                   1995                                                           2016
  Foundation of HFLG with the                            CTB is the first terminal worldwide to use satellite           Berths at CTB ready to handle the newest generation of ULCV
  aim to build and operate                               data for container positioning in the storage area             2018
  Hamburg’s warehouse
                                                         1995                                                           Acquisition of largest container terminal in Tallinn, Estland
  district; at the time it was the
                                                         HHLA acquires 25 % of shares in METRANS                        2018
  world’s largest and most
  technically advanced                                   1996                                                           Merger of METRANS & Polzug; acquisition of remaining shares
  logistics centre                                       Acquisition of the container terminal at CTT                   2019
                                                                                                                        CTA gets certified as first climate neutral terminal in Europe

                       1960 - 80s                           1990s                            2000s                           2010s                           2020
                      1968                                                               2002                                                           2021
                      First containership is handled at CTB                              Opening of container terminal Altenwerder                      Acquisition of majority stake
                      1972                                                               (CTA), Hamburg – a facility with the highest                   in multi-function terminal PLT
                      1st weekly Asian container service handled at CTB                  degree of automation worldwide at that time                    in Trieste, Italy

                      1976                                                               2007                                                           2021
                      HHLA sets up HPC Hamburg Port Consulting                           Opening of a hub terminal in Dunajska Streda                   Acquisition of majority stake
                                                                                         and further inland terminals                                   in automation specialist iSAM
                      1982
                      Opening of multi-functional terminal O'Swaldkai                    2007
                                                                                         Initial public offering (IPO) of HHLA
                      1984
                      Rollout of mobile data communication at CTB

                 January 2022    Investor presentation                                                                                                        © Hamburger Hafen und Logistik AG      26
Fact book

                   Key figures
Port Logistics     Port Logistics subgroup

in € million                                                 2016      2017      2018      2019                            2020

Revenue                                                    1,146.0   1,220.3   1,285.5   1,350.0                      1,269.3

EBIT                                                        147.6     156.6     188.4     204.4                           110.3

Profit after tax and minorities                              63.7      71.2     102.9      93.6                             35.3

Earnings per share in €                                      0.91      1.02      1.47      1.34                             0.50

ROCE in %                                                    12.8      13.6      15.5       11.1                                 5.8

Free cash flow (excl. proceeds from short term deposits)    116.9     134.9      19.8     116.6                           111.4

Capex (without Group internal transaction)                  136.9     136.4     132.9     214.9                           178.7

                 January 2022   Investor presentation                                        © Hamburger Hafen und Logistik AG      27
Fact book

                   Balance sheet, assets and liabilities
Port Logistics     Port Logistics subgroup

in € million                                              2016      2017      2018      2019                            2020

Balance sheet total                                     1,638.1   1,658.9   1,783.3   2,401.4                      2,383.3

Non-current assets                                      1,165.1   1,184.6   1,280.5   1,936.6                      1,953.4

Current assets                                           473.1     474.4     502.8     464.8                           429.9

Equity                                                   528.7     555.8     564.5     525.6                           512.5

Pension provisions                                       453.5     442.1     442.1     496.3                           523.9

Other non-current liabilities                            452.2     430.8     545.1    1,111.8                      1,068.0

Current liabilities                                      203.7     230.3     231.6     267.7                           278.9

                 January 2022   Investor presentation                                     © Hamburger Hafen und Logistik AG      28
Fact book

             Key figures
Container    Container segment

in € million                                       2016    2017    2018      2019                            2020

Container throughput in thousand TEU               6,658   7,196   7,336    7,577                          6.776

Revenues                                           694.6   746.6   758.9    799.7                          737,5

EBITDA                                             201.5   194.7   209.8    240.2                          160,4

EBITDA margin in %                                  29.0    26.1    27.6     30.0                             21,7

EBIT                                               117.8   109.4   131.6    141.3                             65,4

EBIT margin in %                                    17.0    14.7    17.3     17.7                                 8,9

Segment assets                                     824.5   810.8   888.9   1,295.6                      1,282.6

            January 2022   Investor presentation                              © Hamburger Hafen und Logistik AG      29
Fact book

              Growth of global container throughput and GDP
Container     Slowdown of growth multiplier on GDP since 2012

                             Upswing                                            Dip          Recovery                    Decade of convergence                                  Pandemic dip & recovery

              Ø multiplier                     2.6x                             7.3x              2.4x                                   1.2x                                                ~ 1.0x
20%

15%

10%

 5%

 0%
       2000    2001        2002   2003     2004      2005      2006   2007   2008   2009   2010   2011   2012   2013    2014     2015     2016     2017     2018    2019     2020 2021e 2022e 2023e 2024e

-5%

-10%
                  Container throughput                    GDP world

                                                                                                            Source: Drewry Maritime Research, Container Forecaster, December 2020 / IMF World Economic Outlook, January 2021

            January 2022          Investor presentation                                                                                                                                © Hamburger Hafen und Logistik AG      30
Fact book

               Ports are an investment opportunity in GDP growth
Container      After a decade of convergence continued growth in line with GDP development expected

                      Upswing                            Dip              Recovery                   Decade of convergence                               Pandemic dip & recovery

 in TEU million

 800
 700
 600
 500
 400
 300
 200
 100
    0
            2001      2003   2005     2007            2008   2009     2010   2011    2012   2013   2014   2015   2016    2017    2018       2019      2020      2021e       2022e       2023e          2024e

                                                                     Global  thereof Asia  thereof Northwest Europe

             Global              12.3%                   -9.3%               11.8%                               3.8%                                                    ~5%
CAGR

             Asia                14.1%                   -7.9%               13.4%                               4.1%                                                    ~4%

             NW Europe              9.7%                -17.1%               6.4%                                2.3%                                                    ~5%

                                                                                                                           Source: Drewry Maritime Research, Container Forecaster, December 2021 / HHLA
              January 2022    Investor presentation                                                                                                                © Hamburger Hafen und Logistik AG       31
Fact book

             Development of alliances in the Asia − Far East services
Container    Concentration in the shipping industry substantially increased

                                                                          Share                Main developments since 2016
                                                                        FE – Europe
                                                                                                Acquisition of CSCL by COSCO
                                                                                                Acquisition of APL by CMA CGM
                                                                           37%                  Insolvency of Hanjin
                                                                                                Acquisition of Hamburg Süd by Maersk
                                                                                                Integration of UASC in Hapag-Lloyd
                                                                                                Acquisition of OOCL by COSCO
                                                                                                Merger of Japanese carriers
                                                                           38%
                                                                                               Implications
                                                                                                Re-shaping of alliances and cooperation to
                                                                                                 improve load factor and slot costs
                                                                                                Consolidation process in the shipping
                                                                           25%                   industry led to a highly concentrated
                                                                                                 market; only smaller changes expected
                                                                                                Perspectives
                                                                             Source: HHLA /     Deployment of largest vessel sizes and
                                                                      AXS Alphaliner Monthly
                                                                        Monitor, March 2021      focus on calls at gateway ports (hubs)
            January 2022   Investor presentation                                                                    © Hamburger Hafen und Logistik AG      32
Fact book

              Competing ports of the North Range
Container     Container throughput and market share development

                                                                                                                                       Throughput and market share of HHLA in 2020
                     Container throughput in the North Range** 2020                                                                    in TEU million
                     43.1 million TEU (+ 2.4 % y-o-y)
                                                                                                                                             41,9

                                                              WILHELMSHAVEN
                                                                                                           KIEL
                                                                 0.4 million TEU                           CANAL
                                                                   (- 33.8 y-o-y)                                                                              13,7
                                                                                                                                                                                  8,5                 6,3
                                                                                                                                              15 %             46 %               74 %
                                                                                                                                       North Range** German Bay               Hamburg               HHLA
                                                                       BREMERHAVEN                   HAMBURG
                                                                       4.8 million TEU               8.5 million TEU
                                                                       (- 1.8 % y-o-y)               (- 7.9 % y-o-y)                        CAGR*              CAGR*            CAGR*              CAGR*
                                      ROTTERDAM                                                                                              1.1%             - 0.9%             - 1.1             +0.7%
                                      14.3 million TEU                                               HHLA in Hamburg
                                      (- 3.2 % y-o-y)                                                6.8 million TEU
                                                                                                     (- 11.1 % y-o-y)                  Throughput and market share of HHLA in 2008
                                                                                                                                       in TEU million

                                                                                                                                              36,9

                                                                               Current terminal capacity
                                                                                  of North Range ports
                           ZEEBRUGGE        ANTWERP                            of ~ 56.5 million TEU p.a.1                                                     15,3
                           1.8 million TEU 12.0 million TEU                   utilisation stands at ~ 71 %2                                                                        9,7
                           (+ 10.3 % y-o-y) (+ 1.4 % y-o-y)                                                                                                                                           6,9
                                                                 Sources: Port Authorities / HHLA                                            20 %
                                                                                                                                             17 %              45 %
                                                                                                                                                               40 %              70 %
                                                                                                                                                                                 66 %
                                                                 1 Drewry Global Container Terminal Operators 2020 (Aug. 2020)
                                                                 2 HHLA estimates (Drewry capacity estimates / reported volumes)
                                                                                                                                       North Range** German Bay               Hamburg               HHLA
                                                                 * CAGR: 2008-2020, ** North Range ports (Antwerp, Rotterdam, Zeebrugge, Hamburg, Bremerhaven / 2018 incl. Amsterdam / 2020 incl. Wilhelmshaven)
            January 2022     Investor presentation                                                                                                                        © Hamburger Hafen und Logistik AG      33
Fact book

              Favourable geographical location of Hamburg
Container     Still a hub for the major economies of Asia and CEE

                                                          Sea-bound container throughput in Hamburg FY20            Port of Hamburg: Hub with network
                                                          by region
                                                                                    52% Asia                         Germany’s largest logistics hub
                                                                                    10% Baltic Sea                   Europe’s largest railway port with dense
                                           BALTIC SEA /
                                           SCANDINAVIA
                                                                                    9% Scandinavia                    rail network to CEE and dense feeder
                                                                                    9% North America                  network to the Baltics
                                                                                    7% Latin Amerika
                                                                                                                     Cost advantages for shipping lines
                                                                                    5% Rest of Europe
                                                                                    3% Africa
                                                                                                                      due to central location deep inland
                                                                                    5% Other regions                 Attractive cargo mix
                                                                                                     Source: HHLA    Well balanced import/export flows

                                                          Challenges                                                Potential
                                                           Underutilized capacities in most North                   Elbe dredging already completed;
                                                            Range ports puts pressure on pricing                      full approval anticipated for H2/2021
                                                           Formation of alliances leads to increased                 > adjustment of the waterway enabling a
    ASIA /                                                                                                            higher load factor, extended time slots and
  FAR EAST                         CENTRAL AND              price and performance pressure
                                 EASTERN EUROPE                                                                       more flexibility for handling of mega carriers
                                                           Increasing number of mega carriers
                                                            demands more efficiency and operational                  Ongoing infrastructure projects, i.e. replace-
                                                            flexibility as well as investments                        ment of Köhlbrandbrücke, are on track
                                                                                                                     Recovery of the Russian economy

            January 2022   Investor presentation                                                                                          © Hamburger Hafen und Logistik AG      39
Fact book

              Far East transport chain
Container     Hamburg’s location offers cost benefits compared to other North Range* ports

                                                                                                                                                       Shanghai  Hamburg
                                                                                                                                                       (one-way: ~ 20,375 km)
                                                                                                                                                        60 % of costs for about 97 %
                                                 700 km = 5 Cent per iPad                                                                                of total distance
                                                                                                                                                        No differentiation in freight rates
                                                                                                                                                         between North Range** ports

                                                                                                                                                       Hamburg  Prague
                                                                 20,375 km = 7 Cent per iPad
                                                                                                                                                       (one-way: ~ 700 km)
                                                                                                                                                        40 % of costs for about 3 %
               20’ Container                   = 11,500 iPads
                                                                                                                                                         of total distance
               Shanghai – Hamburg*             = € 800
               Hamburg – Prag*                 = € 520
                                                                                                                                                        Clear differentiation between North
                                                                                                                                                         Range* ports
                    12 Cent per iPad per 21,000 km
                           * as of Dec 2017

                                                                ** North Range ports (Antwerp, Rotterdam, Hamburg, Bremen Ports incl. Wilhelmshaven)
            January 2022         Investor presentation                                                                                                                      © Hamburger Hafen und Logistik AG      35
Fact book

                  Handling of ultra large container vessels (ULCVs) require extra effort
 Container        Ongoing growth in ship sizes

Ship size development at HHLA container terminals                                                                                                                          Implications
                                                                                                                                                             2016
                                                                                                            Since first call of a                             2017
                                                                                                        ULCV in 2010, share increased
                                                                                                                                                                           Nautical restrictions tightened by
                                                                                                                                                             2018
                                                                                                             to more than 25%                                 2019           increasing number of mega carriers
    39%                 41% 40%                                                                                                                           
                                                                                                                                                              2020
                                                                                  35% 34%                                                                 
                                                                                                                                                                             because of more width and draught
           30% 32%                                                                           31%
                                                                                                                                    25% 27% 26%
                                                                                                                                                      *
                                                    22% 22%                                                                                                                 Peak load conditions due to narrower time
                                             16%                  17% 19%
                                                                                                    14% 15%                   14%                                            windows requires higher degree of
                                                                                                                        10%
                                                                                                                                                                             automation
                                                                                                                                                                            Capex requirements (suitable quay walls,
           < 6,000 TEU                        6,000 to 10,000 TEU                 10,000 to 14,000 TEU                        > 14,000 TEU
                                                                                                                                                                             gantry cranes etc.)
                                                                                                                     * 2020 trend impacted by loss of a Far East service

ULCV (>10,000 TEU) fleet worldwide and order book until 2022                                                                                                               Counteraction

                                                                                                                             47
                                                                                                                                         62                                 Enhancing service quality by continuous
                                                                                                   35
                                                                                                                56                                                           investment in technology and efficiency
                                                                                        45
                                                                             50
                                                                  70                                                                                                        Proper equipment for ULCV’s
                                                    61
                                     52
                                                                                                                                                    in service
                                                                                                                                                                             (quay walls, gantry cranes etc.)
                        75

                                                                                                                                   756
                                                                                                                       709
                                                                                                          653
           65                                                                                                                                       in order
                                                                                                                                                                            Optimising vessel calls within the port
                                                                                             618
                                                                                  573
                                                                       523
                                                           453
                                              392
                               340

                                                                                                                                                                            Raising attractiveness of HHLA terminals
                  265
     200

                                                                                                                                                                             by expanding hinterland network
      2013         2014        2015            2016         2017       2018       2019       2020e        2021e        2022e       2023e

                January 2022              Investor presentation                                                           Source: Alphaliner Monthly Monitor, March 2020                         © Hamburger Hafen und Logistik AG      36
Fact book

              Ship size development
Container     Mega carriers of > 24 thousand TEU have become standard on the Asia-North Europe route

            January 2022   Investor presentation                                               © Hamburger Hafen und Logistik AG      37
Fact book

              Mega carriers led to challenging peak load conditions
Container     Example for the impact of a 24 TTEU vessel on all modes of transport and the block storage system

                                                        Throughput:
                                24 TTEU vessel
                                                        9,500 boxes

                    5
                                                                                                    50

                    2
                                                                                                 3,600

            January 2022   Investor presentation                                                  © Hamburger Hafen und Logistik AG      38
Backup

HHLA is ready for 24,000 TEU vessels
Measures for smooth container throughput on the waterside and in the hinterland

                                                                       NTK: Nautische Terminal Koordination             FLZ: Feeder Logistik Zentrale
                                                                        Coordination of arriving and departing          Neutral platform and single point of contact
                                                                         vessels in the river Elbe already starting       for feeder vessel planning and terminal
                                                                         in the North Sea                                 rotation coordination

                                                                       Rail handling: Project “RaMoNa”
                                                                        Introduction of RAngierMOdells NOrdhafen (Shunting model Northern port)
                                                                        Reduction of shunting, increase of efficiency and reduction of turnaround times in rail traffic

                                                                       Truck handling: Project “Fuhre 4.0“ incl. slot booking Tightening of the system in 2021
                                                                        Reduce handling and waiting times for HGVs and distribute them evenly throughout the day.
                                                                        Increasing the capacity and efficiency of existing infrastructure (public transport network,
                                                                         transhipment companies, technical equipment)

                                                                       Terminal operation
                                                                        Implementation of a new terminal operating system from Navis
                                                                        Electrically operated storage blocks instead of sole use of VCs at CTB

       14.12.2021   Capital Markets Day: Striving for Efficiency – Restructuring programme in the Container segment                              © Hamburger Hafen und Logistik AG    39
Fact book

                 Focus on client needs: mega carrier ready
Container        Investments in terminal expansion and process optimisation continued at all terminals in Hamburg

                                                                               Organisation
                                                                                Centralisation of planning and administration functions
                                                                                Set-up container operations with partly flexible allocation of
                                                                                 workforce across terminals and integrated steering model
                                                                                Bundling of technical services including maintenance & repair

                                                                               Automation
                                                                                Automation of horizontal transport and extension of storage crane
                                                                                 systems at CTB
                                                                                Remote control / automation of railroad crane at CTA
                                                                                Automation of ship-to-shore cranes at CTA

                                                             KÖHLBRANDBRÜCKE
                                                                               Process optimisation and digitalisation
                                                                                Standardization and digitalisation in administrative and control
                                                                                 functions enabled through N4
                                                                                New truck and train operations to enhance handling efficiencies
                                                                                AI-supported yard optimisation by forecasting dwell times and final
                                                                                 destinations of containers

                                                                               Cost optimisation
                                                                                Peak shaving to reduce energy costs
                                                                                Cross-terminal asset management
            BERTH FOR MEGA CARRIER                                              Optimisation of internal and external services

               January 2022          Investor presentation                                                               © Hamburger Hafen und Logistik AG      40
Fact book

              HHLA Container Terminal Altenwerder
Container     CTA Terminal Layout 2025

                                                                        Container Terminal
                                                                        Altenwerder (CTA)

                                                                         Asset largely
                                                                          depreciated –
                                                                          € 125 m replacement
                                                                          investments necessary
                                                                          by 2025
                                                                         Additional investments
                                                                          of € 19 m by 2025
                                                                         Light capacity increase
                                                                          from 2.3 m TEU today
                                                                          to 2.6 m TEU in 2025

            14.12.2021   Capital Markets Day: Striving for efficiency     © Hamburger Hafen und Logistik AG      41
Fact book

              HHLA Container Terminal Burchardkai
Container     CTB Terminal Layout 2025

                                                                        Container Terminal
                                                                        Burchardkai (CTB)

                                                                         Investments of
                                                                          € 385 m between
                                                                          2022 and 2025
                                                                         Includes investments
                                                                          in third ULCV berth
                                                                         Increasing the 2.9 m
                                                                          TEU capacity today
                                                                          to 4.1 m TEU in 2025

            14.12.2021   Capital Markets Day: Striving for efficiency     © Hamburger Hafen und Logistik AG      42
Fact book

              HHLA Container Terminal Tollerort
Container     CTT Terminal Layout 2025 ff.

                                                                        Container Terminal
                                                                        Tollerort (CTT)

                                                                         Capacity expansion
                                                                          in line with volume
                                                                          development depending
                                                                          on COSCO – from
                                                                          1.6 m TEU up to
                                                                          2 m TEU in 2025
                                                                         Including total
                                                                          investments in the
                                                                          amount of € 60 m until
                                                                          2025
                                                                         Further expansion for
                                                                          second ULCV berth
                                                                          possible

            14.12.2021   Capital Markets Day: Striving for efficiency     © Hamburger Hafen und Logistik AG      43
Fact book

              High automation level with mega-carrier berths in operation
Container     Advanced terminal technology

                                                             HHLA in the Port of Hamburg
                                                              Market share of 74 % in Hamburg and
                                                               15 % in the North Range in 2020
                                                              State-of-the-art handling technology,
                                                               innovative IT systems and a high level of
                                                               automation
                                                              Three fully equipped berths for the latest
                                                               generation of ULCV’s already in operation
                                                               at the container terminals Burchardkai
                                                               (CTB) and Tollerort (CTT)
                                                              Further rollout of additional automated block
                                                               storage capacities at CTB
                                                              On-dock railway stations at all facilities able
                                                               to comply with future 740 metre block trains
                                                              Optimised traffic coordination for an
                                                               improved cargo flow and terminal access

            January 2022   Investor presentation                                     © Hamburger Hafen und Logistik AG      44
Fact book

              State-of-the-art container handling at CTA
Container     Maximum efficiency by high degree of automation and compact layout

            January 2022   Investor presentation                                   © Hamburger Hafen und Logistik AG      45
Fact book

              International container terminals
Container     Port Logistics subgroup with international presence

                                Container terminal Odessa (CTO) operated by UIC, Odessa / Ukraine
                                                                                                                          Since    Current capacity      Potential capacity
                                 Largest and most modern container terminal in Ukraine
                                 Multipurpose terminal for containers and also bulk, general and project cargo
                                                                                                                          2001     850k TEU               1.2m TEU
                                                                                                                          Stake         Area           Length of quay wall

                                                                                                                         100 %      ~ 35 ha                  970 m

                                Terminal Muuga operated by HHLA TK Estonia, Muuga (close to Tallinn) / Estonia
                                                                                                                          Since    Current capacity      Potential capacity
                                 Market leader in Estonia
                                 Multipurpose terminal for break bulk, bulk and RoRo handling
                                                                                                                          2018     300k TEU               800k TEU
                                 Geographic position links the Northern European market with the New Silk Road           Stake         Area           Length of quay wall
                                 Location is developing into a multimodal hub as a result of regional infrastructural
                                  projects (such as the Rail Baltica project)
                                                                                                                         100 %      ~ 35 ha                  950 m

                                Piattaforma Logistica Trieste (PLT), Trieste / Italy                                      Since    Current capacity       Potential capacity
                                 Multipurpose terminal: Northern part is already handling general cargo transports,
             Northern part
                                  southern part is newly developed to handle container and RoRo cargo                     2021     Ramp up                   300k TEU

       Southern part
                                 Operations and ramp-up have already started in the first quarter of 2021                Stake         Area
                                 Favourable geographic location as the most northern port in the Mediterranean
                                  to serve CEE as southern gateway                                                       50.01 %    ~ 28 ha

            January 2022     Investor presentation                                                                                      © Hamburger Hafen und Logistik AG      46
Fact book

              Nautical restrictions of Elbe waterway solved
Container     Arrivals and departures of large container ships are much more stable as a result

                                                                           Passing boxes
                                                                            for extended time slots and more flexibility
                                                                            to handle entrance and departure of mega-
                                                                            carriers
                                                                           Cutting the peaks in the river bed
                                                                            enables a higher load factor for mega-
                                                                            carriers
                                                                           Frist stage approval
                                                                            since May container ships can utilise about
                                                                            50 % of the draught improvements;
                                                                            depending on ship size draughts increase
                                                                            by 0.3 m to 0.9 m
                                                                           Final approval at the end of 2021

                                                                              Enabling a higher load factor,
                                                                              extended time slots and more
                                                                              flexibility for mega carriers
            January 2022   Investor presentation                                                     © Hamburger Hafen und Logistik AG      47
Fact book

               Key figures
Intermodal     Intermodal segment

in € million                                        2016    2017    2018    2019                            2020

Container transport in thousand TEU                 1,408   1,480   1,480   1,565                         1,536

Revenues                                            390.1   414.0   433.8   486.9                         476.8

EBITDA                                               79.6    95.0   112.7   139.0                          131.8

EBITDA margin in %                                   20.4    22.9    26.0    28.6                            27.7

EBIT                                                 55.9    69.9    89.1    99.2                            88.3

EBIT margin in %                                     14.3    16.9    20.5    20.4                            18.5

Segment assets                                      405.0   408.1   436.1   585.1                          614.5

             January 2022   Investor presentation                            © Hamburger Hafen und Logistik AG      48
Fact book

               EBIT multiplied several times since realignment
Intermodal     Strategic decision to invest in own assets is a prerequisite to boost utilisation and efficiency

                                          EBIT & EBIT margin                                                                                                                  Since realignment the
             CAGR                         in million €                                                                                              99                         operating result (EBIT)
        2007* – 2020                                                                                                                      89                                   multiplied compared to
                                                                                                                                                              88

      6.8%
                                                                                                                                                                               prior years and
                                                                                      Realignment
                                                                                                                                                                               significantly
                                                                                                                                70
                                                                                                                                                                               outperformed volume
                                                                                                                                                                               and revenue growth
                                                                                                             55        56
                                                                                                                                                                              Strategic decision to
             CAGR                                   38       39
                                                                                                                                         21%       20%
                                                                                                                                                                               invest in own assets is
         2012 – 2020                           18%                              29                                                                          19%                a prerequisite to boost
                                                            17%     27    28                         27                        17%

   18.7%
                                                                                        22     23           15%                                                                utilization and efficiency
                                                                    16%   13%                                        14%
                                                                                12%
                                                                                        8%           8%
                                                                                               7%
                                                                                                                                                                                        Outlook 2021
                                               2007* 2008* 2009* 2010* 2011*           2012   2013   2014   2015     2016      2017      2018      2019     2020
                                                                                                                                                                                  Moderate
             CAGR                                        12%                             15%                                                              57%                    increase of
         2017 – 2020                                     Subgroup                        Subgroup                                                        Subgroup
                                                                                                                                                                              transport volume

      8.1%
                                                           EBIT                            EBIT                                                            EBIT

                                                                                                                                                   adjusted by changes           (2020: 1.5 million TEU)
                                                                                                                                                      in net provision

                                                                                                       * 2007-2011 pro forma: applying the ownership structure end of 2018

             January 2022   Investor presentation                                                                                                                               © Hamburger Hafen und Logistik AG      49
METRANS at a glance

We have established more than 550 regular train connections per week
General overview of the METRANS network

From / to                           trains per week

                                                                                                                                   Terminals

                                                                                                                                   17
                                                                                                                                   Train connections
                                                                                                                                   per week

                                                                                                                                   > 550
                                                                                                                                   Locomotives

                                                                                                                                   128
                                                                                                                                   Wagons

                                                                                                                                   > 3,200
            14.12.2021   Capital Markets Day: 30 years of METRANS – status quo and prospects of the intermodal business   © Hamburger Hafen und Logistik AG   50
METRANS at a glance

We are well connected to the new continental Silk Road
General overview of the METRANS network

                                                                                                                               Number of operated trains by METRANS
                                                                                                                               that originated in or went to China

                                                                                                                               1.250
                                                                                                                                                                          1.009
                                                                                                                               1.000                                                    914
                                                                                                                                750
                                                                                                                                                               496
                                                                                                                                500                  404
                                                                                                                                250    30     92
                                                                                                                                  0
                                                                                                                                       2016   2017   2018      2019         2020        1-11
                                                                                                                                                                                        2021

                                                                                                  General potential of the new Silk Road
                                                                                                   Silk Road infrastructrue project is economically viable
                                                                                                    (price increased from USD 5,000 to USD 15,000)
                                                                                                   Strong westbound focus (imbalance of 70:30)
                                                                                                   Cargo transfer mainly to Germany (Hamburg and Duisburg);
                                                                                                    distribution across whole Europe (key role of Poland as transit country)
                                                                                                   Weaknesses: irregular service, delays (transport, customs);
                                                                                                    high material binding
                                                                                                   Outlook: growth stabilisation

      14.12.2021   Capital Markets Day: 30 years of METRANS – status quo and prospects of the intermodal business                                       © Hamburger Hafen und Logistik AG      51
Fact book

                 Focussed capex for higher value added
Intermodal          Approx. € 547 million investment in own assets since 2012

17           Hub and inland terminals
             in the hinterland                                         >120             Multi-system locomotives
                                                                                        and shunting engines                                      >3,200      Own designed
                                                                                                                                                              light-weighted wagons

Investments
in € million
                                                                                                              130,9*

                                                             77,1                                                                82,7                  Focus of investments
             46,9                            52,3                                            55,1                                                   in 2021 on the renewal and
                                                                    44,1   45,7
                                                                                                                                                  expansion of own transport and
                              12,0                                                                                                                      handling capacities
             2012             2013           2014            2015   2016    2017              2018             2019              2020

                                                                           2019: limited comparability due to first-time application of IFRS 16
               January 2022          Investor presentation                                                                                                      © Hamburger Hafen und Logistik AG      52
Fact book

                The HHLA on-dock rail terminals
 Intermodal

 9 sidings suitable for trains >700 m                       10 sidings over 700 m long    5 sidings over 700 m long
 4 RMGs (half-automated)                                    4 RMGs                        3 RMGs
 Upgrading completed                                        Upgrading underway            Upgrading according to needs
                                        Biggest container
                                           rail terminal
                                            in Europe

              January 2022   Investor presentation                                                            © Hamburger Hafen und Logistik AG      53
Fact book

               The hub and shuttle system
Intermodal     Every port is linked with a network of hubs and inland terminals

         System success derives from a transport design that involves hinterland hubs and shuttle trains plus
     comprehensive monitoring of the transport and logistics chain between the seaport and the hinterland customer

             January 2022   Investor presentation                                                 © Hamburger Hafen und Logistik AG      54
Fact book

               Value drivers: Differentiating know-how and service excellence
Intermodal     Know-how and intelligent terminal layout to the customer’s profit

                                                                                    Innovative design of transport system
                                                                                     and terminal layout that is customized
                                                                                     on the special needs of container
                                                                                     transportation
                                                                                    Highly efficient terminal layout
                                                                                     (e.g. 12 trains can be handled at the
                                                                                     same time at the Prague terminal)
                                                                                    CEE terminals operate 24/7/365
                                                                                    High level of value added service
                                                                                     like repair services for containers
                                                                                     and on-site customs services
                                                                                    Offices in the ports of Hamburg,
                                                                                     Bremerhaven, Koper and Istanbul
                                                                                    Experienced management with
                                                                                     entrepreneurial passion and incentive
                                                                                     structures
                                                                                    Engaged and locally well connected
                                                                                     sales force
             January 2022   Investor presentation                                                      © Hamburger Hafen und Logistik AG      55
Fact book

                Value drivers: Equipment
 Intermodal

                                                           Own locomotives enhance
      Own wagon design for                                                                           Own shunting locomotives
                                                           the production quality and
customized container transportation                                                                with state-of-the-art technology
                                                             improve cost efficiency

 Approx. 3,200 own container wagons                  Metrans owns 40 TRAXX F140 MS             Next innovation driver: shunting
 Own design and development of                        locomotives from Bombardier                locomotives with hybrid technology
  light-weighted wagons with modern                   Metrans operates 128 locomotives          Depending on the assignment,
  “whispering” braking system                                                                     shunting locomotives can run on
                                                      Multi-system locomotives can be
 Optimal distribution                                 deployed in up to seven different          battery power for between 50-70 %
    ‒ 92 containers fit on the standard                electricity grids used all over Europe     of the time it is in operation
      maximum length of 610 m in CEE                   since it can be operated using both       Reduction of fuel consumption
    ‒ 108 containers fit on the standard               alternating and direct current             by up to 50 %
      maximum length of 720 m in WE
                                                      No locomotive changes at each border      50 % less CO2 than conventional
 Overall weight of the container                      saves time and costs and ensures a         shunting locomotives
  flat wagon is around 4,000 kilograms                 high degree of reliability
  resp. approx. 30 % lighter than the
  conventional equipment in Europe
              January 2022   Investor presentation                                                                 © Hamburger Hafen und Logistik AG      56
Fact book

                  Strong position in Central and Eastern Europe
   Intermodal     Markets and competitors

      Germany                                                       Position of METRANS                                       Czech Republic
       Very competitive market                                        Full coverage                                          Strong position of METRANS,
       High share of trucks                                           Specific regions                                        serving whole country
                                                                       New markets
       METRANS serves specific regions                                                                                       Slovakia
        (Munich, Nuremberg, Leipzig, Berlin)                                                                                   Strong position of METRANS,
      Austria                                                                                                                   serving whole country
       Very competitive market                                                                                               Hungary
       METRANS serves specific regions                                                                                        Strong position of METRANS,
        (Salzburg, Upper Austria, Lower Austria)                                                                                serving whole country
      Poland                                                                                                                  New markets
       Very competitive market                                                                                                Romania, Serbia
       High share of trucks
       METRANS covers whole country (focus HH, BHVN only)
Competition

                14.12.2021   Capital Markets Day: 30 years of METRANS – status quo and prospects of the intermodal business                         © Hamburger Hafen und Logistik AG      57
Fact book

                Combined transport is key driver to achieve significant increase in modal sp
 Intermodal

 Share of intermodal and total rail freight                                                                                  Previous and expected combined transport and
 in the overall modal split in million tkm                                                                                   total rail freight volume growth in billion tkm
                                                                                                        Rail
              16.9% 5.5%                      76.9%                                6.2%                 Truck
                                                                                                                                                       +38.8%
                                                                                                        Combined                750
     2009
                                                                                                         transport                                                       +146.6%                           Rail freight
                                                                                                        Barge                                                                     484,1
                                                                                                                                 500                            410,9                                      Combined transport
                 +17.8%           +56.5%                  +9.9%                  -1.9%                                                 348,8
                                                                                                                                                                                           278,4         Due to data availability
                                                                                                                                 250                                    177,3                            the rail share for 2019
                                                                                                                                               112,9                                                     is illustrated by 2018
     2018
                                                                                                                                                                                                         values.
              18.0% 7.5%                                           76.5%                  6.2%                                     0
                                                                                                                                           2009                    2019              2029e

Source: UIRR / UIC presentation                                                                                           Source: UIRR / UIC presentation

 Estimated change in modal split from 2018 till 2030                                                    Rail
                                                                                                                           Economic importance of European combined transport
 in %                                                                                                   Truck              Market volume of more than € 6 billion
                 18%                     75%                              7%                            Barge              Important contribution to EU climate change target
     2018                                                                                                                   Reduced CO2 emissions: 5 million tonnes p.a.
     2030                                                                                      ~ +10%
                                                                                                                            Freight growth driver: + 50 % more tonnes within 10 years
                  30%                           63%                           7%                                            High investments in new technologies and digitalisation
                                                                                        Estimated freight
                                                                                     volume growth by 2030
Source: Rail freight forward, European Rail Freight Vision 2030                                                            Source: UIRR / UIC presentation

              14.12.2021        Capital Markets Day: 30 years of METRANS – status quo and prospects of the intermodal business                                                               © Hamburger Hafen und Logistik AG      58
Fact book

                With HHLA Pure, we offer our clients CO2-neutral handling and transport
 Intermodal     Certified CO2-neutrality for transportation from the port in Hamburg all the way to Europe’s hinterland

Climate-neutral logistics chain

                                                                                                                            Customers

      Product design                                                                 Process                                                 Course of action

 Handling at the container terminals in                                     Certification of HHLA Pure by TÜV Nord                     Modern hybrid and electric locomotives
  Hamburg, esp. at Container Terminal
                                                                             Receiving customer-specific transport                      Electrification at the port container
  Altenwerder, with widely electrified processes
                                                                              (volume / route)                                            terminal with electric storage crane system,
 Transport and collection via METRANS with                                                                                               electric vehicles
                                                                             Offsetting and monitoring by TÜV Nord
  CO2-optimised trains and wagons
 Any currently unavoidable CO2 emissions are
  offset through certified development projects
  with the highest international standard (Gold)
 Confirmation of climate-neutral transports for
  customers
              14.12.2021   Capital Markets Day: 30 years of METRANS – status quo and prospects of the intermodal business                                      © Hamburger Hafen und Logistik AG      59
Fact book

                 Network and equipment enable massive savings in CO2 emissions
 Intermodal

 CO2 emissions on selected routes in the METRANS network                                                                  CO2 emissions on the Hamburg-Budapest
 KG CO2 per TEU                                                                                                           KG CO2 per TEU

              Hamburg < > Poznan                                                                                                          Truck

          Hamburg < > Budapest                                                                                                      METRANS rail

                                                                                                                                              Rail
   Hamburg < > Dunajska Streda

                                                                                                                                                     0       100    200   300   400   500   600    700      800       900
                Hamburg < > Prag
                                                                                              Truck

     Hamburg < > Ceska Trebova
                                                                                           
                                                                                           
                                                                                               METRANS rail
                                                                                               Rail
                                                                                                                                   Hamburg
                                                                                                                                                                                                       - 88 %
                                                                                                                                                                                                         METRANS savings
         Hamburg < > Gernsheim                                                                                                                                                                           compared to truck*

       Hamburg < > Berlin KöWu
                                                                                                                                                            Budapest                                 - 58 %
                                   0   100     200     300     400     500     600     700     800     900                                                                                             METRANS savings
                                                                                                                                                                                                       compared to rail*
Truck and rail data based on EcoTransit calculator, an emission calculator for
                                                                                                                                                                                                     * Budapest < > Hamburg
greenhouse gases and emissions. Data provided by METRANS is TÜV-certified.

               14.12.2021      Capital Markets Day: 30 years of METRANS – status quo and prospects of the intermodal business                                                                 © Hamburger Hafen und Logistik AG      60
Fact book

              Key figures
Logistics     Logistics segment

in € million                                       2016    2017   2018   2019                            2020

Revenues                                           55.0    50.8   59.8   59.0                             51.4

EBITDA                                              2.4     6.9   10.0    8.5                                 6.9

EBITDA margin in %                                  4.3    13.7   16.7   14.3                             13.4

EBIT                                               - 1.7    2.6    5.6    2.5                             - 3.9

EBIT margin in %                                   - 3.1    5.0    9.4    4.3                             - 7.5

At-equity earnings                                  3.7     3.9    4.4    3.0                                 3.4

Segment assets                                     62.0    40.9   42.0   55.8                             51.7

            January 2022   Investor presentation                          © Hamburger Hafen und Logistik AG      61
Fact book

              Overview of the Logistics segment activities
Logistics     HHLA continues a tradition leading the way in port innovations

Specialist handling                                      Consulting services                         Logistic services

            RoRo                                               Consulting                                  Additive manufacturing
             UNIKAI Lagerei- und Speditions-                   HPC Hamburg Port Consulting GmbH,          Bionic Production GmbH, Lüneburg
              gesellschaft mbH, Hamburg                          Hamburg
             ARS-UNIKAI GmbH, Hamburg at equity

              Bulk                                             Automation technology                       Hyperloop transport system
               Hansaport Hafenbetriebsgesellschaft             iSAM AG, Mülheim an der Ruhr               Hyperport Cargo Solutions GmbH i.G.,
                mit beschränkter Haftung,                                                                    Hamburg at equity
                Hamburg at equity

             Fruits                                                                                        Digital solutions
              HHLA Frucht- und Kühl-Zentrum                                                                modility GmbH, Hamburg
               GmbH, Hamburg at equity
              Ulrich Stein Gesellschaft mit
               beschränkter Haftung, Hamburg at equity
                                                                                                           Airborne solutions
                                                                                                            HHLA Sky GmbH, Hamburg
                                                                                                            Spherie UG(haftungsbeschränkt),
                                                                                                             Hamburg at equity
                                                                                                            Third Element Aviation GmbH,
                                                                                                             Bielefeld at equity

            January 2022   Investor presentation                                                                        © Hamburger Hafen und Logistik AG      62
Fact book

               Examples for new business fields
 Logistics     HHLA continues a tradition leading the way in port innovations

               Digital solutions                               Additive manufacturing                          Airborne solutions
               modility                                        Bionic Production                               HHLA Sky

 Corporate spin-off founded in 2020                 Founded in 2015                                Founded in 2018
 HHLA initiated the new booking portal with         Independent provider of consultancy            Business concept: in-house developed
  several partners from the transport and             services for additive manufacturing             industrial drones with a globally first
  freight-forwarding sector                                                                           scalable end-to-end drone system that
                                                     Business concept: introduce 3D printing
 Business concept: Booking and brokerage                                                             enables drones to be operated safely
                                                      processes into industrial series production
  portal to connect intermodal operators’                                                             beyond the visual line of sight (BVLOS)
                                                      and employ bionic designs to suitable
  available transport capacities with the             components and development of                  Benefits: Variety of assignments from
  transport needs of freight forwarders; focus        hardware and software components for            civil and industrial safety at airports and
  on combined road/rail transport in Europe           3D printing equipment                           industrial sites, to environmental
 Benefits: opportunity to gain easy access                                                           monitoring and surveying grounds and
                                                     Benefits: optimised components in line
  to intermodal transport offers while fostering                                                      buildings to collect specific data on behalf
                                                      with bionic principles allow a production
  new customer relationships; additionally,                                                           of customers or transmit real-time images
                                                      using minimal materials and energy
  Intermodal transport will thus be further                                                           using extremely powerful cameras
  bolstered as an efficient, environmentally
  friendly transport system

             January 2022   Investor presentation                                                                         © Hamburger Hafen und Logistik AG      63
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