H1 and Q2 2020 Operational results

For immediate release 16 July 2020

Global Ports Investments PLCH1 and Q2 2020 Operational results

Global Ports Investments PLC ("Global Ports" or the "Company", together with its subsidiaries and joint ventures, the "Group" or the "Global Ports Group"; LSE ticker: GLPR) today announces its operational results for H1 and Q2 2020.

H1 and Q2 2020 Operational results are also available at Investor page of Global Ports website www.globalports.com/en/investors/

Highlights

● The Russian container market declined by 6.1% in 2Q 2020, compared to 2Q 2019, resulting in a 2.4% decline in 1H 2020 vs. 1H 2019, as growth of containerised export (y-o-y growth of 1.6% and 7.5% in 2Q20 and 1H20 respectively) was not sufficient to offset the decline of containerised import (y-o-y decline of 11.8% and 6.6% in 2Q20 and 1H20 respectively), as a result of the global and local macroeconomic impact of the COVID-19 outbreak.

● The Group continued to outperform the market, with Consolidated marine container throughput up 5.5% to 380 thousand TEU in 2Q20, versus a 6.1% decline in the Russian container market over the same period. In addition, 1H20 Consolidated marine container throughput increased by 8.4% to 774 thousand TEU against the container market decline of 2.4% over the same period.

● As a result of the Group's efforts to increase productivity and customer service standards, the Group outperformed the market in both key basins where its terminals are located. Consolidated marine container throughput of the Group's terminals located in the Baltic Basin increased by 1.4% in 2Q20 against a market decline of 16.2% in the same region, while Consolidated marine container throughput of the Group's terminal located in the Far Eastern Basin increased by 17.0% in 2Q20 against a market growth of 9.2%.

● Consolidated marine bulk throughput increased by 2% y-o-y to 1.17 million tonnes in 2Q20, with 1H20 growth of 12% y-o-y as coal handling at ULCT was in the early ramp-up stage in 1Q 2019 resulting in elevated y-o-y growth rates in 1Q20.

● Car and high and heavy Ro-ro handling declined by 48% and 9% respectively y-o-y in 2Q20, reflecting the slowdown in Russian consumer demand.

Outlook

● The rapid growth of containerised export has shifted the market towards an import-export balance, that increases market resilience and limits volatility - both trends were clearly seen in 1H2020 when the market demonstrated more steadiness than in 2009 and 2015. However, in 2Q20 we saw a decline in full container import and decelerating growth rates in full export on the back of the global and local macroeconomic turmoil following COVID-19 outbreak. We expect high volatility and this challenging environment to continue in 2H20 with low visibility of trends.

● The growth of containerised export, on the back of the decline in containerised import, is having a negative impact on the mix of prices and services provided by the Group. When combined with the depreciation of the rouble, the Group now expects a high single-digit to low double-digit decline in revenue per TEU in 2020.

● The Group remains focused on improving the quality of our services across every aspect of our activity.

ENQUIRIES

NOTES TO EDITORS

Global Ports Investments PLC

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

Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal[2] and Moby Dik[3] in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland[4] (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino Logistics Park[5] located in the vicinity of St. Petersburg.

Global Ports' revenue for 2019 was USD 361.9 million and Adjusted EBITDA was USD 226.9 million. Consolidated Marine Container Throughput was 1,439 thousand TEU in 2019.

Global Ports' major shareholders are Delo Group, one of the largest private transportation and logistics holding companies in Russia (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operate a terminal network of 74 terminals globally. 20.5% of Global Ports shares are traded in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).

For more information, please see: www.globalports.com

LEGAL DISCLAIMER

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

DEFINITIONS

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

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

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

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

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

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

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

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

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