APM Terminals Company Presentation

APM Terminals Company Presentation
1st Quarter 2016

Presentation overview
Company introduction Global maritime trade summary Trends in port and trade development Examples of operational advantage following APM Terminals’ involvement This presentation will provide a brief introduction to the world of shipping, global trade and economic development; the world of APM Terminals. Tangier, Morocco

APM Terminals by the Numbers
Countries: 60 Employees: 20,600 Operating Port and Terminal Interests: 73 New port projects in development: 8 Inland Services operations: 143 Revenue in 2014: $4.45 billion Containers handled in 2014: million (weighted by equity share) Size of global container market in 2014: 679 million TEUs* APM Terminals operates a Global Terminal Network which includes 20,600 personnel in 60 countries, and was named “Port Operator of the Year” at the Lloyd’s List 2015 Global Awards. We manage or have interests in 73 operating port facilities, including container, oil and general cargo terminals in 40 countries 8 new terminal projects now in development at Abidjan, Ivory Coast; Izmir, Turkey; Vado, Italy; Moin, Costa Rica; Lazaro Cardenas, Mexico; Ningbo, China; Tema, Ghana and Puerto Quetzal, Guatemala. 16 expansions or upgrades of existing facilities are underway, including Apapa, and Onne Nigeria, Poti, Georgia; Callao, Peru; Qingdao, China; Gothenburg, Sweden; and Pipavav, India. APM Terminals Inland Services is a major presence in global logistics with 143 operations in 39 countries. In a global market of 679 million container twenty-foot equivalent units, or “TEUs” loaded and discharged at ports around the world in 2014, APM Terminals’ container lifting was 38.3 million, weighted by our equity share in the port and terminal facilities. APM Terminals ranked 3rd globally in container handling volume by this measure in 2014 (with a 5.5% market share), and second in terms of overall terminal network capacity, with 92.4 million TEUs (behind only Hutchison Port Holdings, with million TEUs). [Drewry Global Terminal Operators Annual Report 2015] Our revenue in 2014 was $4.45 billion dollars including both port and inland cargo and container services. (*Source: Drewry Shipping Consultants 2015)

Company overview

APM Terminals is one of five primary business units of the Maersk Group
Maersk Group Copenhagen, Denmark 2014 Revenue: $47.5b USD (Shipping, Energy, Ports) 89,000 employees in 130 countries. APM Terminals The Hague, Netherlands 2014 Revenue: $4.45b USD 2014 container volume: 38.3m TEUs (Container Volumes weighted by equity share) 20,600 employees, 58 countries The Hague, Netherlands APM Terminals is a member of the Maersk Group which has headquarters in Copenhagen, Denmark, and was named “Port Operator of the Year” at the 2015 Lloyd’s List Global Awards, in London. The Maersk Group, with overall revenue of $ billion dollars in 2014, employs 89,000 people in 130 countries. APM Terminals is one of the Group’s five primary business units, which also include Maersk Line, the world’s largest shipping line, Maersk Oil, Maersk Drilling and APM Shipping Services. The Maersk Group has a century of history in the shipping industry, beginning with the establishment of the original company in 1912 in Copenhagen by company founder Mr. A.P. Møller, who in partnership with his father had invested in a second-hand tramp steamer in 1904. The first dedicated port facility under company operation was opened at the Brooklyn Piers, in the Port of New York in 1958. A total of 12 facilities which are part of the APM Terminals Global Terminal Network were cited as among global and regional productivity leaders in 2014 by the Annual JOC Group Productivity Study. Retaining its status as the world’s most productive container terminal, as measured by crane moves with a vessel alongside, was APM Terminals Yokohama, the 2013 leader as well, improving crane moves per hour (MPH) to 186, from the world-leading 180 MPH measured by the JOC Study last year.

APM Terminals Global Terminal Network Update:
APM Terminals and Grup TCB announce APM Terminals’ acquisition of Grup TCB’s port terminal and Spanish rail portfolio, including 11 terminal facilities in: Spain Turkey Mexico Colombia Guatemala Brazil

In 2014 Barcelona-based Grup TCB ranked 23rd globally in terminal container throughput (weighted by equity share) with 2.5 million TEUs handled, and an overall capacity of 6.3 million TEUs. Muelle Sur Terminal in Barcelona has an annual throughput capacity of 1.4 million TEUs, in Spain’s 3rd-largest container port. APM Terminals has completed the acquisition of Grup Maritim TCB, including its 11 container terminal portfolio and Spanish railroad operations, representing new capacity of 4.3 million TEUs with facilities in Spain, Turkey, Guatemala, Mexico, Colombia and Brazil. The transaction is expected to close by the end of the year and is subject to regulatory approval.

Terminal de Contenedores de Barcelona
Spanish terminal operations added to the APM Terminals Global Terminal Network include: Terminal de Contenedores de Barcelona TCV Stevedoring Company (Valencia) Terminal Polivalente Castellón Terminal de Contenedores de Gijón Compañía Auxiliar del Puerto, Santa Cruz de Tenerife Compañía Auxiliar del Puerto, Santa Cruz de La Palma Grup Maritim TCB ‘s Spanish container terminal locations include Barcelona, Valencia and Castellon, on the Mediterranean coast, along with the concessions in Gijon, on the Bay of Biscay, and in the Canary Islands: Santa Cruz on Tenerife and La Palma on Gran Canaria. In addition to the existing APM Terminals Algeciras facility at Spain’s largest container port, it is notable that the Spanish ports of Valencia and Barcelona, which rank 2nd and 3rd in Spain for container traffic, will now also be APM Terminals container facility locations. With the addition as well of the TCB terminals in Gijon, Castellon and the Canary Islands, APM Terminals will become one of the largest, if not the single largest terminal operator in Spain by capacity and volume.

Two facilities are located in the Canary Islands;
TCE EGE Konteyner Terminal Istletmeleri is located in Turkey’s Izmir Port complex, where APM Terminals will also be operating the new container terminal at Petkim Port. Adding TCB’s combined 1.77 million TEU Spanish throughput of 2014 to APM Terminals Algeciras’ total creates an aggregate Spanish port volume of 5.3 million TEUs, or approximately slightly less than half of Spain’s total annual container throughput. Outside of Spain, Grup Maritim TCB’s terminal operations include Izmir, Turkey; Yucatan, Mexico; Quetzal, Guatemala (under construction, opening 2016); Buenaventura, Colombia, on the Pacific Coast; and Paranagua, Brazil.

Joining APM Terminals’ Latin American operations are facilities in Yucatan, the second facility in Mexico, and a new terminal nearing completion in Quetzal, Guatemala. A terminal in Buenaventura will become APM Terminals’ second port location in Colombia. Terminal de Contenedores de Yucatán (TCY) in the Port of Progreso, is at present a relatively small facility, with an annual throughput capacity of 110,000 TEUs, and a 2014 throughput of 66,000 TEUs, accounting for all of the port’s container traffic. APM Terminals Lazaro Cardenas will be opening on Mexico’s west coast in 2016 with an annual throughout capacity of 1.2 million TEUs. Currently still under construction, Terminal de Contenedores Quetzal, on Guatemala’s Pacific Coast, will provide an annual container throughput capacity of 340,000 TEU when the facility becomes operational late in Guatemalan ports handled a combined 1.26 million TEUs in 2014, trailing only Costa Rica with 1.29 million TEUs, and Panama, with its Canal-associated transshipment ports at Colon and Balboa, which handled 6.77 million TEUs in 2014, among the Central American nations. APM Terminals Moin, on Costa Rica’s Atlantic coast, is scheduled to open in 2018 with an annual throughput capacity of 1.3 million TEUs. Sociedad Portuaria Terminal de Contenedores de Buenaventura (TCBUEN) is a 500,000 annual TEU capacity facility at the Port of Buenaventura, Colombia’s second-busiest container port, with a 2014 throughput of 855,000 TEUs, on northern South America’s Pacific Coast. In August APM Terminals’ obtained a 51% majority share in a new joint venture with Compas S.A. to operate a 250,000 TEU annual capacity terminal at the Port of Cartagena, Columbia’s busiest container port, located on the Atlantic side of the Isthmus of Panama, at the top of northern South America.

Terminal de Contêineres de Paranaguá is APM Terminals’ fourth terminal in Brazil, adding annual throughput capacity of 800,000 TEUs at Brazil’s 3rd-largest container port. Terminal de Contêineres de Paranaguá (TCP), is located in Brazil’s third-busiest container port, which handled 757,000 TEUs in 2014, trailing only Santos, South America’s busiest container port, (3.04 million TEUs) and the Itajaí/Portonave port complex (1.04 million TEUs). TCP becomes APM Terminals’ fourth operating facility in Brazil, including BTP (Santos), APM Terminals Itajaí and APM Terminals Pecém. Brazil’s container throughput was 9.2 million TEUs in 2014, the highest total of any Latin American country.

APM Terminals Inland Services will add three intermodal rail operations in Spain.
TCB Intermodal, TMZ Stevedoring Services and TVC Railway Transport will become part of APM Terminals Inland Services, serving rail connections between Valencia and Barcelona, and northern and central Spanish industrial and population centers.

APM Terminals: The world’s only geographically balanced Global Terminal Network
Port and container terminal development, management and operation, and associated inland services capabilities. 20,600 employees in: 60 countries 5 continents 2014 Revenues of $4.45b USD 73 operating ports and terminals: 8 new projects; 16 expansion and upgrade programs 63 inland services companies with: 143 operations in 39 countries APM Terminals is the world’s most geographically balanced global port, terminal and inland services network. We invest, design, develop, implement, operate and manage container and multi-purpose ports - and inland cargo handling services. Our market share of global container throughput, weighted by equity share, was 5.6% in 2014 of a total of 679 million TEUs handled worldwide. [Drewry: August 2015]. Customer base: 60 shipping lines and leading importers and exporters Annual container throughput: 38.3m TEUs (by equity- weighted volume) Global market share of container throughput: 5.6% in 2014

484 Continued decline for combined marine and inland services
Protecting our people and the environment: Safety and sustainability progress and goals in 2015 Lost-Time Injury Frequency Rate: 22% To 1.41 per million man hours worked for 2014 from 2013 (including inland services) Reported injuries: 484 Continued decline for combined marine and inland services MAGNUM advanced management training: Participation 55% of the 2013 MAGNUM class came from operations in emerging market countries. We are an industry leader in safety and sustainability. Our Lost-Time Injury Frequency Rate, measured in Lost-Time Injuries per million man-hours worked, declined by 22% in 2014 to 1.41 from 1.81. Our company goal of sustainability is also progressing very successfully, through increased use of alternative environmentally friendly energy sources, and reduced carbon dioxide output per TEU handled. JOC 2014 Productivity Study results: 12 Number of APM Terminals Global Terminal Network facilities named global productivity leaders. CO2 output per TEU: 25% reduction from base year 2010 is the goal by 2020. Workforce diversity 71% of employees find APM Terminals’ leadership to be genuinely committed to attracting, training and retaining a diverse workforce.

APM Terminals’ leadership team
We are proud to have combined the most talented and proactive international team of business leaders in the industry, each of whom represents significant experience in managing the complexities and opportunities of running and growing a global business.

History: 57 years of progress, innovation and growth
1958 The first dedicated A.P. Moller port facility is a general cargo terminal in Brooklyn, NY. 1975 Maersk Line opens its first dedicated container terminal, at Port Newark, New Jersey. 1988 Maersk Line opens its first Far Eastern terminal at the Port of Kobe, Rokko Island, Japan 1999 Maersk Line acquires US-based Sea-Land Services expanding terminal operations globally. 2001 APM Terminals is established as a separate terminal operating unit within Maersk Line. Named “International Terminal Operator of the Year” at the Containerisation International 2012 Awards 2004 APM Terminals becomes an independent corporate entity, with HQ in The Hague, Netherlands. 2006 Named Containerisation International’s “Port Operator of the Year”. 2007 APM Terminals reports results separately, with revenue of $2.5 billion; $111 million profit. 2008 Container volume (by equity share) of 34 million TEUs; 26 new terminal or expansion projects. 2009 Named Lloyd's List Global Awards’ "Port Operator of the Year"; Revenue of $3 billion. APM Terminals can trace its heritage in port and terminal operations back more than half a century to the first A.P. Moller port terminal in Brooklyn, New York. In 1975 Maersk Line opened its first dedicated container terminal, and became a major presence in global terminal operations and management. In 1999 with Maersk Line’s acquisition of US-based Sea-Land Service, we significantly enlarged our scope of terminals and operations. 2001 marked the establishment of APM Terminals as a separate entity – serving Maersk Line’s terminal needs. As the company grew and diversified our client portfolio – the need to be more independent in our activities and more diversified in our business model became clear. In 2004, APM Terminals was established as a separate and independent business unit within the Maersk Group and moved into our own world headquarters in The Hague, Netherlands. Today our clients include al of the world’s major shipping lines, and the APM Terminals Global Terminal Network has been recognized for excellence and industry leadership in Safety, Productivity and Innovation. 2010 APM Terminals assumes Inland Services businesses; combined revenue of $4.2 billion 2011 APM Terminals named winner of Lloyd’s List Global Safety Award; Revenue of $4.6 billion. 2012 Named Containerisation International 2012 “International Terminal Operator of the Year” and Lloyd's List Global Awards’ "Port Operator of the Year“; Revenue of $4.8 billion. 2013 Named Containerisation International 2013 “International Terminal Operator of the Year”, and Winner of the Lloyd’s List Asia 2013 “Port Operator Award”. 2014 APM Terminals Yokohama once again named world’s most productive container terminal; Lloyd’s List North American Port Operator of the Year; revenue of $4.45 billion.

APM Terminals’ container throughput: 2004-2014
(Equity Share Weighted) TEUs (Millions) APM Terminals’ 2014 container volume growth of 5.5% matched global container volume growth to achieve a new company record of 38.3 million TEUs handled (weighted by equity share).

Global terminal operator comparison:
APM Terminals ranks 3rd globally in container throughput by equity-weighted market share: TEU millions (Equity weighted) 2014 2013 2012 Volumes Market Share PSA 55.1 8.1% 52.9 8.2% 50.9 Hutchison 45.9 6.8% 45.0 7.0% 44.8 7.2% APM Terminals 37.0 5.5% 35.0 33.7 5.4% DP World 35.8 5.3% 32.8 5.1% 33.4 Total top 4 operators 173.8 25.6% 165.7 25.8% 163.9 26.5% All other operators 505.6 74.4% 476.8 74.2% 454.1 73.5% Total 679.4 100.0% 642.5 621.6 APM Terminals ranked third globally among port and terminal operating companies in terms of equity-weighted container throughput market share, handling 5.5% of the global container market in 2014, as calculated by Drewry Shipping Consultants; (APM Terminals’ internal data uses a 38.3 million TEU by equity share figure). The four leading port and terminal operating companies, which include The Port of Singapore Authority (PSA), Hutchison Port Holdings (HPH), of Hong Kong, and Dubai Ports World (DPW), combined handled just over one quarter (25.6%) of the global market, falling slightly over the past two years as new global competitors, notably China Merchants, have become more active. (Source: Drewry, August 2015) (Source: Drewry, August 2015)

Our port facilities: A balanced global network serving all major markets
The following maps provide a look at our facilities in greater global detail, and by area. The APM Terminals Global Terminal Network is the world’s most geographically balanced port and terminal network, with facilities operating on every major trade lane and in every major market. APM Terminals is the second-largest largest port and terminal operating company in terms of overall network global capacity, with 92.4 million TEUs in 2014 (Source: Drewry 2015 Global Terminal Operators Annual Review).

Port facilities: North America
APM Terminals was the leading terminal operating company in North America in 2014, with weighted throughput of 4.67 million TEUs in 2013 (Drewry 2015), and a market share of 9.2%. With some portfolio changes, including ending operations in Houston and Jacksonville, APM Terminals currently has interests in five US ports, including the Pier 400 terminal at the Port of Los Angeles, which with an area of nearly 500 acres, and an annual throughput of 2.19 million TEUs in 2014, is the largest single proprietary terminal in the world. The 40-acre on-dock rail facility, pioneered by APM Terminals, can accommodate four double stack trains simultaneously with five miles of working track. Overall container traffic at US and Canadian ports was 55.7 million TEUs in 2014, representing 8.2% of global container throughput for the year (Drewry August 2015). APM Terminals was named “Port Operator of the Year” for 2014 at the Lloyd’s List North American Maritime Awards in Houston, in February APM Terminals Pier 400 Los Angeles was ranked the most productive container terminal in North America by the JOC productivity study for 2014 with 92 MPH with a vessel alongside.

Port facilities: Latin America
South American ports handled 21.7 million TEUs in 2014, representing 3.2% of the world’s total container volume. APM Terminals is now ranked 4th in throughput by equity share in South America (Source: Drewry 2015) with 1.46 million TEUs handled in 2014 for a market share of 5.6%, with operations at Callao, Peru; Santos, Itajaí and Pecém in Brazil and Buenos Aires, Argentina. APM Terminals’ portfolio expansion in 2015 has added three terminals in South America: in Cartagena and Buenaventura, Colombia, and Paranagua, Brazil. A new terminal was also added to the APM Terminals portfolio in Yucatan, Mexico, on the Gulf Coast, and another new terminal acquisition is nearing completion at Porto Quetzal, Guatemala, on Central America’s Pacific Coast. In 2011 APM Terminals was awarded a 33-year concession for the design, financing, construction, operation and maintenance of the new deep-water Terminal de Contenedores de Moín (TCM) on Costa Rica’s Caribbean coast. Upon the completion of the final phase, the TCM will have an area of 80 hectares, with 1500 meters of quay, 5 berths, a 2.2 km breakwater and an access channel 18 meters deep, serving as a shipping hub for the Caribbean and Central America. Construction began following the 2014 approval of the Environmental Impact Studies submitted as part of the concession and design process. In November 2012 the official groundbreaking ceremony was held for a new deep-water terminal at Lázaro Cárdenas (TEC2) Mexico. In 2011 APM Terminals was named as the winner of a 32-year concession for the design, construction and operation of the terminal, Phase I of the facility is scheduled to open in 2016 with an annual throughput capacity of 1.2 million TEUs. APM Terminal Buenos Aires Terminal 4 hosted the largest vessel ever to call the East Coast of South America, the 332 meter-long 9,700 TEU capacity Hamburg Süd Cap San Nicholas, the first of six of the Cap San class vessels which will be introduced into Hamburg Süd’s Asia/South Africa/East Coast South American route. The Port of Buenos Aires is the second-busiest container port in South America, after the Brazilian Port of Santos. Terminal 4 was the first APM Terminals facility located in the southern hemisphere, when privatized in It is currently undergoing an expansion and upgrade, including the delivery of a new mobile harbor cranes and four Rubber Tire Gantry (RTGs) cranes in 2012, as part of approximately $20 million in investment over the past two years. Throughput at Terminal 4 in 2013 was 321,000 TEUs. In November 2013 Brasil Terminal Portuário was officially inaugurated at the of Santos, adding 1.2 million TEUs of annual throughput at a new deep-water facility in which APM Terminals has a 50% share; it is now the busiest container terminal at the Port of Santos, with a 2014 throughput of 1.47 million TEUs. APM Terminals Callao is undergoing a $750 million modernization and expansion, and has received the first four of a planned 13 super-Post Panamax cranes to handle vessels of up to 16,000 TEU capacity.

Port facilities: Europe
APM Terminals’ European operations have expanded significantly with the addition of six Spanish terminals and one Turkish facility as part of the Grup TCB terminal portfolio acquisition in September 2015. As designated by Drewry Maritime Consultants, ports in Northern Europe accounted for 55.9 million TEUs handled in 2014, representing 8.2% of global container throughput (Drewry, August 2015). APM Terminals ranked in 4th place among North European terminal operators with equity-share throughput of 5.5 million TEUs, representing a market share of 10%. APM Terminals currently has operations in 6 facilities in Northern Europe. The newest terminal in this port range, the state-of-the-art APM Terminals Rotterdam-Maasvlakte II was officially inaugurated in March In January 2012 APM Terminals assumed control of the Port of Gothenburg, Sweden’s Skandia Container Terminal, the busiest container terminal in Scandinavia with throughput of 837,000 TEUs in Now operating under the name of APM Terminals Gothenburg, $115 million will be invested over the next five years to establish the facility as a deep-water hub for Scandinavia and the Baltic area. APM Terminals Rotterdam handled 2.46 million TEUs in 2014, and ranked 1st among terminals in Europe in productivity, and 16th globally, in the JOC Group’s Productivity Study for 2014 with 101 MPH with a vessel alongside. NTB North Sea Terminal Bremerhaven ranked 3rd in Europe with 95 MPH. Southern European ports, including the Mediterranean, account for 6.5% of global container throughput with 44.1 million TEUs handled in 2014 (Drewry, August 2015). APM Terminals is the largest container terminal operator in Southern Europe with 4.71 million TEUs handled by equity share in 2014, representing a market share of 10.7%. APM Terminals operates a major transshipment hub at Algeciras, Spain, along with interests in facilities in Valencia, Barcelona, Castello, Gijon and the Canary Islands . A new 800,000 TEU capacity terminal is currently under development in Vado, Italy, and scheduled for completion in In August 2015 APM Terminals purchased the Vado Reefer Terminal, near the current new Vado terminal development site. Drewry’s South Europe region also includes Turkey, where APM Terminals is developing the 1.3 million TEU annual capacity APM Terminals Izmir on Turkey’s west coast on the Aegean Sea, scheduled to open in March of APM Terminals now also operates a second facility in Nemrut Bay, acquired from Grup TCB.

Port facilities: Russia-Baltics
APM Terminals’ Russia-Baltics Region includes holdings in eight marine facilities: four terminals serving the St. Petersburg area; a terminal in Vostochny on Russia’s Pacific Coast; two container facilities in Finland, in Helsinki and Kotka; and an oil terminal in Tallinn, Estonia. The Drewry Maritime Consultants’ Eastern Europe Region handled 9.4 million TEUs in 2014, APM Terminals holds a co-controlling share in Global Ports Investments, which in December 2013 acquired Russian-based NCC, Russia’s second-largest terminal operating company. The combined annual throughput capacity of the expanded company’s Russian operations is now 4 million TEUs, and represents approximately 40% of Russia’s container throughput. Global Ports ranked 1st in Eastern Europe with 1.85 million TEUs, by equity share, and a 19.6% market share. APM Terminals’ separate equity share was 3.3%, representing the Port of Poti, Georgia.

Port facilities: Africa-Middle East
Given its population and resources, as well as projected growth, Africa is significantly underrepresented in global container traffic, accounting for 24.2 million TEUs in 2014 or only 3.5% of total global container throughput (Drewry, August 2015). APM Terminals is the largest port and terminal operating company in Africa by equity throughput with 5.69 million TEUs handled in 2014, and a 19% market share (including transshipment volume at APM terminals Tangier in Morocco, and the Suez Canal Container Terminal in Egypt). APM Terminals is particularly well-represented in West Africa, with ten facilities in eight countries, including APM Terminals Apapa, the busiest container terminal in West Africa with throughout of 700,000 TEUs in A $130 million USD investment plan was announced for expansion and equipment upgrades at APM Terminals Apapa in A proposal for a new deep-water 1 million TEU annual capacity facility at Badagry, Nigeria is moving forward, and a 1.5 billion investment agreement for a new deep-water hub port facility in Tema, Ghana was officially signed in June. In May 2013 a new 600 meter rebuilt quay was officially opened at Monrovia. APM Terminals’ began operations at the Port of Monrovia, Liberia under a 25-year concession agreement for the privatization of the port in A total investment of $120 million in the facility will expand and upgrade the port over the course of the contract term. The Port of Monrovia is APM Terminals’ first 100%-owned facility in Africa. A consortium led by APM Terminals has been awarded the contract for a second container terminal to be built in Abidjan, Ivory Coast, a deep-water facility capable of handling 8,000 TEU capacity vessels, with an annual throughput capacity of 1.5 million TEUs. In May 2014, APM Terminals’ local joint venture Sogester signed a 20-year concession for the operation, management and development of the Port of Namibe, Angola’s southern most port. Sogester also operates the terminal facility at the primary Angolan port of Luanda. Container throughput in the Middle East rose to 40.9 million TEUs in 2014, representing a global market share of 6% (Drewry, August 2016). APM Terminals has interests in three Middle Eastern facilities, at Aqaba, Jordan on the Red Sea; Salalah, Oman on the Arabian Sea; and on Bahrain in the Persian Gulf, which in combined throughput weighted by equity share handled 1.6 million TEUs in 2013, representing 4.6% market share in the region, ranking 4th in the region. The Port of Salalah, on the Arabian Sea, was the 2rd-largest containerport in the Middle East Region (after Dubai), with an overall 2014 volume of 3 million TEUs. The Salalah Container Terminal was ranked 4th in the Middle East for productivity by the JOC Group Productivity Report for 2014 with 96 MPH. APM Terminals holds a minority stake in the Port of Salalah, which is currently undergoing an expansion which will double the quay length and increase dry bulk capacity to 20 million tons, and liquid bulk capacity to 6 million tons annually. The Port of Aqaba, Jordan’s only containerport, is the 2nd–largest container facility on the Red Sea, after Jeddah, (Saudi Arabia) with throughput of 787,000 TEUs in The Aqaba Container Terminal is a joint venture between ADC, the Jordanian Government's development arm for the Aqaba Special Economic Zone and APM Terminals, which manages the facility. A terminal expansion project, including a 460 meter doubling of the quay, will increase annual container throughout capacity to a projected 2 million TEUs when fully completed and equipped. The Port of Colombo, Sri Lanka, is part of the APM Terminals AME Region. With a throughput of 4.9 million TEUs, Colombo ranked 26th in container volume globally in APM Terminals holds a minority share in the South Asia Gateway Terminal (SAGT) at Colombo, which handles just over half of all of the port’s containers. Total container throughput at SAGT in 2014 was 1.66 million TEUs. The Port of Colombo is a major transshipment port for India, Bangladesh and domestic cargoes, as well as for cargoes in transit from Southeast Asian ports to Europe and North America, handling 17% of all container traffic destined for India. SAGT was named among the world’s most productive terminals by the JOC Group Productivity Study for 2014, tied for 10th place with 111 MPH. In April 2011, APM Terminals purchased an 80% controlling share in Poti Sea Port, the largest port in Georgia, on the coast of the Black Sea, which is now part of the AME Region. Operating as APM Terminals Poti, development plans call for $100 million to be invested in expansion and modernization of the full service port over the next five years. Container throughput at APM Terminals Poti was 385,000 TEUs in

Port facilities: Asia-Pacific
Far Eastern ports handled 272 million TEUs in 2014, or 40% of total container volume worldwide (Drewry, August 2015). APM Terminals, with interests in 9 operating terminals in China and two in Japan, ranked 10th among Far East terminal operators with an equity-weighted market share of 2.5% and 6.4 million TEUs handled in 2014. In June 2012, APM Terminals signed an agreement with the Port of Ningbo Group to jointly invest in and operate three berths comprising a one kilometer quay in Ningbo’s Meishan Container Terminal. An expansion in Qingdao is currently in progress. Productivity at APM Terminals Yokohama was again ranked the highest in the world, and in the Asia-Pacific region by a JOC Group for 2014, at 186 MPH with a vessel alongside. Terminal throughput in 2014 was 832,000 TEUs. Nine APM Terminals-associated facilities ranked among the Top 25 in the overall 2014 JOC Study ranking, including Qingdao Qianwan Container Terminal, in Qingdao, and Tianjin Port Alliance International Container Terminal, in Tianjin, China, with 136 MPH; Xiamen Songyu Container Terminal, in Xiamen, China, with 124 MPH; Tianjin Port Euroasia International Container Terminal (TECT), with 212 MPH; Guangzhou South China Oceangate Container Terminal, in Guangzhou, China with 117 MPH; and Dalian Port Container Terminal, in Dalian, China, with 108 MPH. Southeast Asian ports handled 95.2 million TEUs in 2014, representing 14% of total global container throughput (Drewry, August 2015). APM Terminals, with interests in two facilities in Laem Chabang, Thailand; CMIT in Cai Mep, Vietnam; and the Port of Tanjung Pelepas, Malaysia, ranked 5th in equity-weighted throughput in Southeast Asia with 3.2 million TEUs handled, representing 3.4% of the regional market. The Port of Tanjung Pelepas, which ranked third in Southeast Asia and 19h globally in container throughput with 8.6 million TEUs in 2014, has undergone a $470 million expansion to construct Berths 13 and 14, increasing capacity by 24% to 10.5 million TEUs, and upgrade cranes. The new facilities are able to accommodate 18,000 TEU capacity vessels. Located in the Ba Ria‐Vung Tau Province, southeast of Ho Chi Minh City, CMIT is currently the only terminal in Vietnam capable of accommodating larger deep-draft vessels. CMIT handled 403,000 TEUs in The Port of Laem Chabang in the Chonburi Province on the Gulf of Thailand was the 4th busiest container port in Southeast Asia and the 22nd–busiest worldwide with 6 million TEUs handled in 2013, representing 75% of all Thai container traffic. APM Terminals holds a minority share in LCB Container Terminal 1 Ltd. (LCB1), which opened in Through this stake, APM Terminals also owns a share of LCMT Company Limited (LCMT), in which LCB1 holds a majority stake. Combined throughput at LCB1 and LCMT was 1.43 million TEUS in 2014. South Asia, though it contains India, which with a population of 1.2 billion people and the second most populous country in the world (after China), accounted for only 20.8 million TEUs handled in 2013, or just 3% of the global total (Drewry, August 2015). APM Terminals has operations in India’s largest container port, Jawaharlal Nehru Port, in Mumbai, and in the neighboring State of Gujarat on the Indian West Coast, at the Port of Pipavav. APM Terminals ranked 3rd in container throughput in South Asia in 2014 with an equity share volume of 2.3 million TEUs, representing 11.3% of the South Asian market. Jawaharlal Nehru Port, (JNP) serving Mumbai, is India’s busiest containerport, accounting for nearly 60% of all Indian containerized cargo traffic. APM Terminals Mumbai, located at JNP, is the busiest container terminal in India, with throughput of 1.99 million TEUs in 2014, or approximately 20% of India’s total container traffic. APM Terminals Pipavav, a full-service port, is India's first port in the private sector, and serves as a gateway for the West Coast of India for containers, bulk and liquid cargo. The recent completion of a dredging project and the delivery of new cranes have increased the container capacity of the port to 850,000 TEUs. One of India’s fastest growing ports over the past few years, Pipavav has seen container throughput rose by 64% in 2009 to 321,000 TEUs, by 46% in 2010 to 470,000 TEUs, and by 31% in 2011 to 610,000 TEUs. Container throughput was 780,000 TEUs in 2014. An expansion now underway at Pipavav will include a new container berth of 348 meters for a contiguous berth of 735, capable of simultaneously working two post-Panamax vessels, additional dredging, three new post-Panamax cranes, and 10 new RTGs, which will increase annual throughout capacity to 1.5 million TEUs. APM Terminals was named winner of the Lloyd’s List Asia Awards “Port Operator Award”. Pipavav has begun providing liquid bulk and auto export services in 2015.

Current Projects New Terminal Development: (8) Abidjan, Ivory Coast
Izmir, Turkey Lázaro Cárdenas, Mexico Moin, Costa Rica Ningbo, China Savona-Vado, Italy Tema, Ghana Quetzal, Guatemala Terminal Expansions/Upgrades: (15) Algeciras, Spain Apapa, Nigeria Buenos Aires, Argentina Callao, Peru Gothenburg, Sweden Itajaí, Brazil Monrovia, Liberia Onne, Nigeria Pecém, Brazil Pipavav, India Pointe-Noire, Republic of the Congo Poti, Georgia Qingdao, China Salalah, Oman Tema, Ghana Current and recently concluded Upgrade and Expansion Projects: APM Terminals Algeciras: Upgrade for EEE vessels; APM Terminals Apapa: Upgrade; Aqaba Container Terminal: Expansion; Terminal 4 Buenos Aires: Expansion; APM Terminals Callao: Upgrade and Expansion; APM Terminals Gothenburg: Upgrade; APM Terminals Itajai: Expansion; APM Terminals Liberia: Upgrade; Pecém, Brazil: Upgrade; Congo Terminal: Expansion; APM Terminals Poti: Upgrade; Qingdao New Qianwan Container Terminal: Expansion; Port of Salalah: Expansion; Tema, Ghana, Upgrade and new terminal project; West Africa Container Terminal, Onne, Nigeria: Expansion.

Our inland services 143 local operations in 39 countries
Four main businesses areas: Cargo support, inland transportation/depots, equipment maintenance & repair, and container lifecycle management Achieve synergies with a broader scope of products and services: Greater value proposition to our customers Increased efficiencies Lower transportation costs More access to all global markets Seamless container handling to final destination More opportunity for growth There are 63 separate Inland Services companies within the APM Terminals Inland Services network, with 143 local operations in 39 countries around the world. Three Spanish rail intermodal operations were acquired from Grup TCB in 2016.

Terminal handling equipment Reefer care engineering
Our inland services Cargo support Equipment maintenance Terminal handling equipment Gensets Rubber-tire gantries Powerpacks Equipment leasing Handling Packing Fumigation Customs clearance Storage Cargo inspections Inland transportation Container lifecycle management Inland Services are divided into four sectors: Cargo Support; Equipment Maintenance; Inland Transportation and Container lifecycle management. Trucking Shunts Store door Intermodal Rail Repairs Reefer care engineering Modifications Container inspections Sales

Inland Services Network
The following maps provide a closer look at the Inland Services companies and operations in 39 countries around the world.

Inland Services: Latin America
30

Inland Services: Europe

Inland Services: Russia-Baltics
The Russia and Baltics Region Inland Services operations include two facilities serving the St. Petersburg area: the 200,000 TEU capacity Yanino Logistics Park, 50 km from Petrolesport terminal, and the 200,000 TEU capacity Logistika Terminal, 17 km from First Container Terminal.

Inland services: Africa-Middle East

Inland Services: Asia-Pacific

Inland Services: South Asia

Inland services: China

Inland services: Well-known transportation names around the world ...
Inland Services operate under a variety of locally recognized band names as well as the APM Terminals brand.

Drivers of Global Trade: Economic Development and Population Growth
Economically emerging areas of the world, particularly Africa, will also lead in population growth over the next decades.

Global merchandise import growth 1970-2013
Billion USD (Current Value) Global trade, as represented by merchandise import growth continues to expand, increasing by nearly a factor of 10 since 1980, measured by value in current US Dollars. (World Trade Organization 2015) 1970 1980 1990 2000 2010 (Source: World Trade Organization Data 2015)

Global container throughput growth 1979-2014
Million TEUs The growth of world trade in the past three decades has been mirrored by the growth of containerized shipments, which in 2014 reached million TEUs handled worldwide, representing a 5% growth over (Drewry: August 2015) Asia now accounts for more than half of the combined global container throughput (57.6%), with China and Hong Kong alone representing approximately one third (32%) of all global container throughput. (Source: Alphaliner 2015) Overall global exports of goods by value are estimated at $16.5 trillion in 2015 and $16.9 trillion in (Source: IMF World Economic Outlook: October 2015) 1980 1990 2000 2010 (Source: Drewry Shipping Consultants December 2014)

Key Container Shipping Industry Concerns of 2016:
Global container fleet overcapacity Fleet capacity net increase of 8.8%; Projected demand increase of 6:5 to 7%. Shipping line consolidation Response to overcapacity and fuel costs; Example: Hapag-Lloyd and CSAV merger announcement. Port congestion Increasingly significant problem in 2015; Introduction of larger vessels adding to terminal demands. Freight rate instability Downward rate pressure from need to fill larger vessels; Congestion and other surcharges increase costs. Vessel size trend New standard is MSC Oscar at 19,224 TEUs; Theoretical limit as high as 24,000 TEUs. Liner service ships’ speed Higher fuel prices helped cause slowdown to 22 knots; Current lower oil prices may see return to express services. Six major shipping industry topics were raised by major industry publication Lloyd’s List as bearing watching in 2016; these included global container fleet overcapacity as new vessels continue to be added into service as scrapping levels slow; consolidation of smaller lines to compete with the industry giants in economies of scale; port congestion caused by higher trade volumes as well as larger vessel size; freight rate instability and downward pressure on rates in an effort to fill larger vessels; rapidly increasing top vessel sizes from EEE-Class 18,270, to China Shipping’s 19,100 to MSC’s 19,224 TEU capacities in OOCL has six 21,100 TEU capacity vessels scheduled for delivery in 2017, and vessels as large as 24,000 TEU capacity reportedly under design consideration. Liner service vessel speeds are now increasing from the current 22 knots, effected in response to higher fuel prices, as oil prices continue to fall.

World Trade projected growth rates 2015-2017
The World Bank Global Economic Prospects 2015, released in June 2015, projects continuing strong annual global trade growth (by volume) over the next two years, of 4.9% in 2016 and 2017, well, above the 3.1% growth rate of 2012. (Source: World Bank Global Economic Prospects 2015, June 2015)

Seaborne trade is growing faster than Global GDP
Indices for world GDP, the OECD Industrial Production Index, world merchandise trade and world seaborne trade (1990=100) World merchandise trade and global seaborne trade have both been growing at a faster rate than global GDP since 1990; (Source: UNCTAD Maritime Review 2015) This shows the increasing importance of transportation infrastructure investment such as ports, terminals and cargo inland services to overall economic growth and rising standards of living, particularly in economically developing areas currently underserved by modern transportation networks and access.

The global economy relies upon the global shipping fleet for growth…
World trade transported by ship: World merchandise trade by value (2014) : Total number of merchant ships in service in 2015: 9.8 $19 89,464 Billion tons Trillion USD World seaborne trade (value) moving in containers: Developing countries represent the largest share of global seaborne trade; Seaborne trade continues to represent the overwhelming majority of the more than $19 trillion in global merchandise trade by volume as well as value. As of January 2015 there were 89,464 merchant ships in service around the world, with the largest number general cargo vessels (20,216), followed by bulk carriers (10,340), oil tankers (9,435), and container ships (5,106); other merchant vessel types comprised 44,367 vessels. (UNCTAD Maritime Review 2015). Total commercial vessels, including fishing vessels, have been estimated at 102,000. More than half of all seaborne trade by value moves in containers, with emerging economies of Asia, Latin America, the Middle East and Africa accounting for most of current shipping market expansion. 60% 52% of all goods loaded 58% of all goods unloaded (Sources: World Shipping Council 2015; UNCTAD Review of Maritime Transport 2015; World Trade Organization 2014)

Global shipping requires a global port network
Over 400 liner services: 10,000 Port calls weekly 6,085 vessels call liner trade routes: 5,152 are containerships Total global container fleet capacity: million TEUS 482 container vessels on order: 4.01 million TEUs new capacity Top 3 Lines: Nearly two-fifths 38.2% of the total global container fleet Top 5 Lines: Nearly half 47.9% of the total global container fleet “The importance of containerization for global trade is mirrored by the growth in the fleet of containers themselves. In early 1991, there were slightly under 7 million TEUs of containers in use for transporting seaborne trade; by January 2011, this figure had grown more than fourfold, to 29 million TEUs.” (Source: UNCTAD Maritime Review 2011) At present, the world’s largest operating container ships are the 19,224 TEU capacity MSC Oscar-class vessels, of which the first four of six ordered have been delivered. These vessels have replaced the 19,100 TEU capacity China Shipping Globe and the Maersk EEE-Class vessels, with a capacity of 18,300 TEUs, as the largest in the global fleet. A total of Maersk 20 EEE Class 18,300 TEU capacity vessels have been delivered, with the first, the Maersk McKinney Moller, having entered into service in July CGM-CMA is expecting the delivery of six 18,000 TEU capacity vessels in In June, Mitsui OSK confirmed orders for six vessels of 20,150 TEU capacity, and in July China Shipping ordered eight 13,500 TEU vessels. Maersk Line has also ordered another 11 vessels of 19,630 TEU capacity, and nine of 14,000 TEU capacity as this class of Ultra-Large Container Ships continues to dominate new orders. As of September 1st, vessels of over 10,000 TEU capacity represent the largest category of new buildings, with 209 on order; including 72 of 18,000 to 21,000 TEU capacity (Source: Alphaliner September 2015) Only ports and terminals with sufficient depth (15 meters) and Super-PostPanamax Cranes (22-container reach) can accommodate these new larger vessels. (Sources: World Shipping Council 2014; Alphaliner, October 2015)

Shipping Alliances’ Industry Impact
“Bigger consortia and alliances among container carriers will allow carriers to use assets more efficiently” In 2014, industry analysts Drewry Maritime Research projected that the four major shipping alliances combined control 98.5% of the container volume on the Far East/Europe trade lane; the world’s busiest; 2M: 35.4% CKYHE: 25% “Bigger consortia and alliances among container carriers will allow carriers to use assets more efficiently” but also create new challenges for port and terminal operations which must devise new methods of efficiently handling larger container exchanges between vessels and quays, along with larger vessels, often calling simultaneously. Terminal productivity will become an even greater priority as alliances continue to expand operations and market share. Ocean Three: 19.7% G6: 18.4% (Source: Drewry, July 2014)

The two largest shipping company alliances carry more than half of the Europe/Fear East containerized cargo: 2M: Maersk Line and Mediterranean Shipping Ocean Three: CMA-CGM, China Shipping and United Arab Shipping The two largest shipping alliances are the “2M” and “Ocean Three” alliances. The 2M Alliance carries approximately 35% of all goods between Asia and Europe. It has a trans-Pacific market share of 15%, and trans-Atlantic market share of 37%. The ocean Three Alliance has a 20% market Asia/Europe market share, carrying 13% of the trans-Pacific trade, and 7% of the trans-Atlantic trade. These two alliances combined represent more than half (55%) of all container shipping between Europe and Asia.

Two other major alliances represent the combined shipping assets of 11 global shipping lines: G6: APL, Hapag-Lloyd, Hyundai, Mitsui-OSK, NYK and OOCL CKYHE: COSCO, K-Line, Yang Ming, Hanjin and Evergreen The G6 and CKYHE Alliances are comprised of Chinese, German, Korean, Hong Kong, Japanese and Taiwanese shipping lines, and are also ordering ULCS to meet anticipated capacity demand.

Top 20 Container Lines Ranked by Fleet Capacity
Fleet Capacity in TEUS Container shipping is a $6 trillion industry, carrying 95% of all manufactured goods. (Wall Street Journal: June 2015) The world’s two largest container lines alone represent approximately 5.71 million TEUs, or 29% of the global container ship fleet capacity, almost as much as the next six lines combined. The top three lines account for nearly two-fifths of the total global container fleet capacity (38.4%); the top six lines account for more than half (52%) and the ten largest combined represent nearly two-thirds (62.2%) of the total global fleet’s container capacity. (Alphaliner October 2015). APM Terminals counts these companies among the 60 lines for which we provide services around the world. Shipping alliances, which pool vessels and other resources in the interest of economies of scale are becoming a larger factor in port operations as well, involving larger vessels, and multiple ULCS vessel calls at container terminals. (Source: Alphaliner, October 2015)

Top 15 Container Lines Ranked by Number of Ships
The largest container ship lines by capacity are also the largest by containership fleet size, and by vessel order book. The three largest shipping lines, Maersk line, Mediterranean Shipping and CMA-CGM, have a total of 1,567 vessels in service, with another 111 awaiting delivery. Evergreen is now tied with CMA-CGM with 31 vessels on order; (Alphaliner: October 2015). (Source: Alphaliner, October 2015)

2014 Rankings: The World’s Top Container Ports
TEUs (Millions) 1 Shanghai (China) 35.2 16 Hamburg (Germany) 9.7 2 Singapore 33.8 17 Antwerp (Belgium) 8.9 3 Shenzhen (China) 24.0 18 Xiamen (China) 8.5 4 Hong Kong 22.2 19 Tanjung Pelepas (Malaysia) 5 Ningbo (China)* 19.4 20 Laem Chabang (Thailand) 6.5 6 Busan (Korea) 18.6 21 Jakarta (Indonesia) 6.0 7 Qingdao (China) 16.6 22 Bremerhaven (Germany) 5.7 8 Guangzhou (China) 16.1 23 NY/New Jersey (USA) 9 Dubai 15.2 24 Yingkou (China) 10 LA/Long Beach (USA) 15.1 25 Lianyungang (China) 5.0 11 Tianjin (China) 14.0 26 Colombo (Sri Lanka) 4.9 12 Rotterdam (Netherlands) 12.2 27 Tokyo (Japan) 4.5 13 Port Kelang (Malaysia) 10.9 28 Algeciras (Spain) 14 Kaohsiung (Taiwan) 10.5 29 Mumbai (India) 4.4 15 Dalian (China) 10.1 30 Valencia (Spain) Tangier, Morocco The Top 50 container ports by throughput accounted for million TEUs handled in 2014, or nearly two thirds (65.5%) of the world’s total port container movement activity in 2014; (Journal of Commerce: August 2015). Emerging markets, increasingly represented in the top port rankings, are the largest source of new port capacity requirements and infrastructure investment. Chinese ports (including Hong Kong) now account for six of the Top Eight ports measured by container throughput; eight of the Top 15 and 11 of the Top 30 ports. Chinese ports account for nearly one third (32.1%) of the global container throughput. (Source: Alphaliner September 2015) (APM Terminals’ port interest locations listed in bold italic) (*APM Terminals facility in development) (Source: Alphaliner, May 2014)

2014 Productivity Rankings: The World’s Top Terminals
VESSEL PRODUCTIVITY: TOP TERMINALS WORLDWIDE 2014 Terminal Name Port Name Country Berth Productivity APM Terminals Yokohama Yokohama Japan 186 Tianjin Port Pacific International Container Terminal (TPCT) Tianjin China 142 Qingdao Qianwan Container Terminal (QQCT) Qingdao 136 Tianjin Port Alliance International Container Terminal (TACT) DP World-Jebel Ali Terminal Jebel Ali United Arab Emirates 131 Ningbo Beilun Second Container Terminal (NBSCT) Ningbo 129 Tianjin Five Continents International Container Terminal 124 Xiamen Songyu Container Terminal (XSCT) Xiamen Tianjin Port Euroasia International Container Terminal (TECT) 121 Yantian International Container Terminals (YICT) Yantian 119 Pusan Newport Co Ltd (PNC) Busan Republic of Korea 118 Guangzhou South China Oceangate Container Terminal Nansha 117 South Asia Gateway Terminal (SAGT) Colombo Sri Lanka 111 Tianjin Port Container Terminal (TCT) Dalian Port Container Terminal (DPCM) Dalian 108 Yangshan Deepwater Port Phases 1/2 Shanghai 107 Korea Express Kwangyang Container Terminal Gwangyang Hyundai Pusan Newport Terminal (HPNT) Ningbo Gangji (Yining) Terminal Xiamen International Container Terminals (XICT) 104 Yangshan Deepwater Port Phases 3/4 Busan New Port Container Terminal (BNCT) 102 APM Terminals Rotterdam Rotterdam Netherlands 101 MSC Gate Container Terminal Bremerhaven Germany Shanghai Mingdong Container Terminal (SMCT) Source: JOC Group Inc. Port Productivity Data Tangier, Morocco A total of 12 port facilities within the APM Terminals Global Terminal Network scored positions within the JOC Group’s 2014 annual global port and terminal productivity rankings, including APM Terminals Yokohama, which again led all container facilities with 186 crane moves per hour (MPH) with a vessel alongside. Nine facilities either operated by APM Terminals, or in which APM Terminals holds a significant financial interest, were included among the world’s 25 most productive terminals, with three more members of the APM Terminals portfolio listed as among regional top performers. Six terminals, in which APM Terminals is an investor or joint venture partner, among the Top 25 global leaders, are located at Chinese ports: Qingdao Qianwan Container Terminal, and Tianjin Port Alliance International Container Terminal tied for third place with 136 MPH; Xiamen Songyu Container Terminal, tied for sixth place with 124 MPH; Tianjin Port Euroasia International Container Terminal, is in seventh place with 121 MPH; Guangzhou South China Oceangate Container Terminal, ranked 10th with 117 MPH; and Dalian Port Container Terminal, ranked 12th, with 108 MPH. South Asia Gateway Terminal, in Colombo, Sri Lanka, is tied for 11th place with 111 MPH. APM Terminals Rotterdam tied for first place among European terminal operations with 101 MPH, a performance which also merited a three-way tie for 16th place among the global terminal productivity leaders. APM Terminals Los Angeles was the highest ranking port for productivity in North America, with 92 MPH. Within the JOC Group’s “Europe, Middle East and Africa” grouping, The Port of Salalah, Oman; and NTB North Sea Terminal Bremerhaven, in both of which APM Terminals is a shareholder, tied for fifth place with 96 MPH. In productivity while working vessels of over 8,000 TEU capacity, Qingdao Qianwan Container Terminal (QQCT) tied for first place globally, with 157 MPH. All JOC study rankings were calculated from a database with a minimum of 100 vessel call records generated in 2014. (Source: JOC Group, November 2014)

2014 Productivity Rankings: The Americas’ Top Terminals
VESSEL PRODUCTIVITY: TOP TERMINALS AMERICAS January - June 2014 Terminal Name Port Name Country Berth Productivity Panama Ports Company (PPC) Balboa Balboa Panama 99 APM Terminals Los Angeles Los Angeles United States of America 92 West Basin Container Terminal 88 Seagirt Marine Terminal Baltimore 84 Evergreen Container Terminal-Los Angeles 82 Lázaro Cárdenas Terminal Portuaria de Contenedores (LCTPC) Lázaro Cárdenas Mexico Le terminal de Jarry Pointe-à-Pitre Guadeloupe 80 Pierce County Terminal Tacoma 77 North Charleston Terminal (NCT) Charleston 76 Prince Rupert Fairview Container Terminal Prince Rupert Canada 74 Source: JOC Group Inc. Port Productivity Data Tangier, Morocco In the JOC’s Americas Region APM Terminals Los Angeles Pier 400, with 92 MPH, is the top-ranked container terminal in productivity in North America. (Source: JOC Group, June 2014)

2014 Productivity Rankings: Europe, Middle East, Africa
VESSEL PRODUCTIVITY: TOP TERMINALS EUROPE, MIDDLE EAST, AFRICA JANUARY - JUNE 2014 Terminal Name Port Name Country Berth Productivity DP World-Jebel Ali Terminal Jebel Ali United Arab Emirates 131 APM Terminals Rotterdam Rotterdam Netherlands 101 MSC Gate Container Terminal Bremerhaven Germany Khorfakkan Container Terminal (KCT) Khor al Fakkan 100 Red Sea Gateway Terminal (RSGT) Jeddah Saudi Arabia 97 Khalifa Port Container Terminal Mina Khalifa/Abu Dhabi Salalah Container Terminal Salalah Oman 96 NTB North Sea Terminal Bremerhaven Euromax Terminal Rotterdam - ECT 93 ECT Delta Dedicated West Terminal 88 Tangier, Morocco In Europe, three out of the Top 10 most productive terminals were part of the APM terminals Global Terminal Network, with APM Terminals Rotterdam tied as the overall European productivity leader. NTB North Sea Terminal Bremerhaven, in Bremerhaven, Germany, is in second place among European facilities with 96 MPH, and Salalah, Oman, also with 96 MPH, ranks 5th place among Middle eastern terminals. (Source: JOC Group, November 2014)

Trends in port and trade development
Vessel and port size respond to economic and population growth Several major factors will affect port and terminal investment and development in the years and decades ahead, which must be given proper consideration here in the present.

Long-term attractiveness of the port industry is driven by ongoing globalization, containerization and privatization World container port handling demand (TEU million) 10% CAGR from (9.1% ) global volume loss for 2009 Recovery in 2010 with 14.8% growth 40% projected rise Fundamental drivers of port demand Global economic growth. Increased regional trade (e.g. Intra-Asia). Increased containerization of commodities (e.g. grain, reefer). Necessity to upgrade existing capacity (e.g. larger vessels, deep draft and larger crane requirements). Privatization opportunities. Growing consumer demand in developing countries. Projected growth in global container throughput and the need to upgrade infrastructure to accommodate the changing global maritime fleet are key concerns of the port and terminal industry. In 2014 global container throughput reached 679 million TEUs, representing growth for the year at a rate of 5.2%. Current industry projections have forecast global port volume to surpass 840 million TEUs within four years, and average 4.5% annual growth through (Drewry, August 2015) Forecasted figures based on 5.5% average annual growth (Source: Drewry Shipping Consultants, January 2014)

Global Container Fleet Capacity Growth Continues: Liner Container Capacity now exceeds 19 million TEUs Million TEUs Between 1996 and 2002 the world’s container fleet capacity measured in TEUs doubled from 3 million to 6 million TEUS. In six years it had doubled again to 12 millions TEUs by September By November 2009 the next million TEU milestone was passed, and nine months later, in August 2011, total capacity reached 14 million TEUs. After another nine months, by June 2011 the total was 15 million TEUs, and one year later, in June 2012, 16 million TEUs. In August 2013, 14 months after the previous million TEU milestone, global container fleet capacity surpassed 17 million TEUs, and currently stands at 19.5 million TEUs, with more vessels being delivered and entering into service each month, far faster than older vessels are retired and scrapped. The current cellular fleet represents 97% of the world’s liner trade service. (Source: Alphaliner: October 2015)

Panama Canal Locks Widened for 2016
The expansion of the Panama Canal will enable container vessels of up to 49 meters (161 feet) wide and 366 meters (1,200 feet) long to transit by 2015, more than doubling the “Panamax” vessel capacity from under 5,000 TEUs to 13,000 TEUs, with container rows of up to 18 across. The current Panamax limits are 32.3 meters (106 feet) wide and 294 meters (965 feet) long, with container rows of 13 across. The Panama Canal will also be deepened, allowing vessels with a 15.2 meter (50 foot) draft to pass, compared with the current 12 meter (39.5 foot) depth. The current projected completion date is early 2016. This will usher a new era of port requirements and development for not only Latin America, but the established East Coast ports of the USA as well, only few of which have the depth and cranes necessary for vessels of the largest size. Plans for an even larger canal across Nicaragua have been proposed, which would be 173 miles (278 km) long, 250 to 580 yards (228 to 530 meters) wide and 90 feet (27.4 meters) deep, and able to accommodate the largest container ships currently in service or in the planning stages. The estimated cost of the project to be undertaken by the Hong-Kong-based HKND Group is $40 billion, to be completed in five years. Source: Panama Canal Authority

Suez Canal Expansion Completed
More than 17,000 ships transited the Suez Canal in 2014, carrying 822 million tons of cargo. Among these were 6,129 container ships carrying 435 million tons of containerized cargo. (Suez Canal Authority, October 2015). The expanded Suez Canal, which officially opened in August 2015, enables two-way vessel traffic as northbound and southbound convoys can now operate simultaneously along an additional 72 km length of the waterway. The Suez Canal Container Terminal, located at Port Said East, is a joint venture in which APM Terminals is the majority shareholder. SCCT officially opened in December of 2004 and is one of the largest container ports on the Mediterranean Sea. A planned new 9.5 km access channel, expected to be completed in 2016, will permit unrestricted vessel access to Port Said East rather than having to wait for convoy traffic to pass through the canal. A recently completed expansion project at the terminal has enlarged its capacity to three million TEUs, which will increase to 5.4 million TEUs with the delivery of four new super-Post-Panamax cranes able to work 18,000 TEU capacity vessels; SCCT is the only facility in Egypt able to accommodate vessels of 15,500 TEU and above. Throughput at SCCT was 3.4 million TEUs in 2014. A new planned 9.5 km side channel between the Canal and Port Said East will allow 24-hour access to vessels calling the Suez Canal Container Terminal, increasing vessel traffic and annual volume capacity significantly. Source: Suez Canal Authority

Current global population:
Demographic as well as economic trends are shaping the future. Population growth is much higher in emerging market areas such as Asia, Latin America and particularly Africa, than in Western Europe and Japan. High population growth in these areas over the next four decades will lead to significant changes in global national population rankings, and in the demand for consumer products and infrastructure. Without access to international markets and products, the rapidly expanding populations of the developing world will be denied a unique and essential opportunity for economic and social development. Source: United Nations World Population Prospects; The 2015 Revision (2015)

Future global population leaders:
Dedicated infrastructure investment on a massive scale will be required to meet the needs of projected population and economic growth in the next forty years in emerging market areas. For example, while South Asia in 2013 accounted for combined container throughput of an estimated 20.8 million TEUs, less than the Hong Kong’s annual container volume, or only 3% of total global throughput, the combined population of the region will exceed 2.2 billion people by 2050, with India, Pakistan and Bangladesh having become respectively the first, sixth and eighth largest national populations in the world. (UN World Population Prospects 2015 Revision) Future mega-cities of Karachi, Calcutta, Dhaka, Mumbai and Delhi will all be among the Top 10 global cities, with populations of over 19 million. Shipping companies are adapting to anticipated increased trade flows, and the port industry must also be prepared for this New Era. Source: United Nations World Population Prospects: The 2015 Revision (2015)

New larger vessels – raising bar for port operators
World Container Fleet Breakdown by Vessel Capacity 2012 to 2016 Shipping companies have reacted to these forecasts by designing and investing in increasingly larger vessels, transforming the composition of the global containership fleet. As of September 1st 2015, 74% of all new containership capacity, is represented by vessels of 10,000 TEU capacity or above. These 209 new Ultra-Large Container Ships (ULCS) out of a total of 497 vessels on order, account for 3.1 million TEUs of capacity out of a total capacity of 4.25 million TEUs on order. [Alphaliner: September 2015] The ULCS’s will be employed on the Asia – Europe trade lane. The largest vessels currently on order are six 21,100 TEU capacity ULCS scheduled for delivery of Hong Kong-based OOCL. Source: Alphaliner November 2014

Port industry needs to respond
Demand on land space Inland infrastructure and connectivity APM Terminals Maasvlakte II, Rotterdam Itajai, Brazil Sustainability- Safety and Environment New technologies, processes and concepts are revolutionizing port design and development in terms of both productivity and sustainability. Rotterdam, Netherlands 63

The latest ULCS capacity record: 19,224 TEUs
The current container ship capacity record-holder are the MSC Oscar-class vessels, at 19,224 TEUs, the first four of six vessels of this configuration have been delivered. Other vessels of this size category exceeding the EEE capacity currently under order include five 19,100 TEU capacity vessels by China Shipping; and six 18,800 TEU ships by United Arab Shipping Company. The China Shipping Globe, the first of the 19,100 TEU capacity vessels to be delivered, entered into service in The largest vessels currently on order are six 21,100 TEU capacity vessels for OOCL. Mediterranean Shipping launched the 19,224 TEU capacity MSC Oscar in January 2015. The Oscar was the first of six vessels of this configuration to be joining the global fleet. Four MSC Oscar-class vessels are currently in service.

Current Operating ULCS Comparisons:
Vessel Class Length (m) Width (m) Draft (m) Capacity (TEUs) MSC Oscar 395.4 59 16 19,224 CSCL Globe 400 58.6 19,100 Maersk EEE 14.5 18,270 (Chart Source: Alphaliner) The Maersk McKinney Moller, launched in June 2013 with an 18,300 TEU capacity, and its EEE-Class sisters delivered to date, were the first to exceed the 18,000 TEU capacity limit. A total of 20 EEE-Class vessels have been ordered by Maersk Line scheduled for delivery through The current record-holder is the MSC Oscar, at 19,224 TEUs, the first of six vessels of this configuration to have been delivered. OOCL has announced orders for six vessels of 21,100 TEU capacity. As larger vessels enter the main East-West strings, those currently in service will be cascaded down to secondary trade lanes, creating an entirely new demand for new crane investment, yard expansion and inland access in the intra-Asia, South American and African markets. 18,270 TEU Maersk EEE-Class Vessel

Evolution of Port design
The evolution of port design reflects advances in vessel design and their new operational requirements. These requirements include the smooth flow of containers and other cargoes into and out of shore side facilities to interior population and manufacturing centers. Container yards processing significantly larger container volumes from individual vessels as well as general global volume growth will have to be able to have cargoes moved in time for the next scheduled vessel call, when the process will begin all over again, often in a matter of just a few days, or as just seen, in some cases on a daily basis. The port industry, however, does not have the luxury of being able to react to changes in the market environment; we must be able to anticipate and be able to deliver the terminal capacity and productivity that our customers will require in Asia and Europe, and across the globe. This fact is made more challenging because of the discrepancy in lead times for construction; a vessel construction schedule may be calculated in months but a new container terminal design and development schedule must be calculated, in most of the world, in years- in fact as long as a decade in some instances. It is also a fact that since 2011, 316 vessels of this “ultra-large” category have entered into the global container fleet. Brooklyn, New York, USA Maasvlakte 2, Rotterdam, The Netherlands Port Elizabeth, New Jersey, USA The effects of containerization on port design and operations illustrated by a comparison of port operations and activities separated by several decades.

The evolution of crane sizes...
A 5,000 TEU capacity Panamax vessel requires a crane with a 13 container-wide reach 25 meters above quay level, for example. Cranes able to service one of the new 18,000 TEU vessels, however, will require a 23 container-wide reach with a lifting height of 52 meters. The dimensions of the new cranes are just one aspect of new era port planning. Power infrastructure needs will also change. While a Panamax STS crane requires 900 kilo volt amperes (kVA), the newest ultra-large containership cranes have a 2,500 kVA requirement.

...and the evolution of crane concepts
From bigger cranes … … to smarter cranes APM Terminals has in service some of the world’s largest and most advanced STS cranes, including fully automated remote-control cranes now in service at the new Maasvlakte II terminal in Rotterdam.

Innovation: A Path to Improved Productivity
For the first phase of the Maasvlakte II terminal, the current fleet consists of 37 battery-powered Lift-AGVs in combination with 128 storage racks. Lift Automated Guided Vehicles at the new Maasvlakte II terminal in Rotterdam are projected to increase productivity by an estimated 25% to 50% over conventional terminal design. The new 2.7 million TEU annual capacity Maasvlakte II terminal was officially opened at the Port of Rotterdam in April 2015, providing the world’s safest and most advanced container handling equipment for horizontal transport of containers: Battery-powered Lift-Automated Guided Vehicles (Battery Lift AGVs). APM Terminals Maasvlakte II is equipped with 37 Battery-powered Lift-AGVs, 87 battery packs and two, robotic Battery Exchange Stations, allowing automated exchange of the battery pack. The vehicles, measuring 15 meters long and 3 metres wide, operate without particulate or noise pollution associated with diesel engine-powered equipment. The Maasvlakte II terminal design concept is based upon using ship-to-shore (STS) cranes that take containers from the vessel and place them directly onto a fleet of Battery-Lift AGVs, which can carry two containers at a time and shuttle them at a speed of 22 kilometers per hour from the quay to the container yard using an onboard navigation system following a preset transponder grid. Once the Lift AGV arrives at its programmed destination it lifts the containers into a series of storage racks. Automated Rail-Mounted Gantry (ARMG) cranes then move the containers from the racks to their next designated locations; a rail terminal, a waiting truck chassis or another location in the container yard. For the first phase of the Maasvlakte II terminal, the fleet utilizes 37 Battery-Lift AGVs in combination with 128 storage racks. At full build-out, the facility will have an annual capacity of 4.5 million TEUs. APM Terminals Rotterdam Maasvlakte II was named winner of the 2015 Containerisation International “Innovation of the Year” Award.

Investment in underserved markets

Africa: A huge emerging market in need of infrastructure investment and global logistics access
The population of Africa has been projected to increase from 1.1 billion today to 1.6 billion in 2030; This increase is equivalent to the current population of the EU. New APM Terminals projects in Africa include: A second Terminal in Abidjan, Ivory Coast; A new mega-port in Badagry, Nigeria; A $1 billion expansion of Tema Port, Ghana. The UN estimates the population of Africa will grow by 500 million people over the next 15 years, to 1.6 billion. This increase is equivalent to the current combined population of the 28 European Union member nations. APM Terminals is a leader in port and terminal operations in Africa, and continues to invest in crucial infrastructure. New projects include a second terminal at the Port of Abidjan, Ivory Coast; a $1 billion expansion of the Port of Tema, Ghana; and a new mega, multi-purpose port in Badagry, Nigeria, which will be Africa’s largest.

Central America: Moin, Costa Rica
Costa Rica borders Panama to the South and Nicaragua to the North in Central America, and is currently the world’s largest exporter of pineapples, and the 4th-largest exporter of bananas. The largest Costa Rican port is Puerto Limón/Moín, which handled 1.04 million TEUs in The IMF has projected a growth rate of 3% for the Costa Rican economy in (IMF World Economic Outlook: October 2015). Costa Rican GDP generated an estimated GDP of $50.5 billion USD in 2014. APM Terminals was awarded a 33-year concession for the design, financing, construction, operation and maintenance of the new Terminal de Contenedores de Moín (TCM) on Costa Rica’s Caribbean coast in March The first phase of development, scheduled for completion in 2018, calls for the access channel and turning‐basin to be dredged to 16 meters, a new 1.5 km breakwater to be constructed with a 40 hectare container yard, 600 meters of quay and 2 berths equipped with 6 post‐Panamax cranes. Construction has begun, with the project’s Environmental Impact Study having been approved by the Costa Rican Government in Upon the completion of the project’s final phase, TCM will have an area of 80 hectares, with 1500 meters of quay, 5 berths, a 2.2 km breakwater and an access channel 18 meters deep, serving as a shipping hub for the Caribbean and Central America. Project: Moin Container Terminal (MCT) Investment: $992 million USD over the 33-year concession Phase I: 2 berths and 6 Post-Panamax cranes (Completion 2018) Proximity to Panama Canal APM Terminals’ ownership: 100%

Mexico: Lázaro Cárdenas
The population of Mexico is 115 million, ranking 11th globally, with a GDP in 2013 of $1.29 trillion ($2.14 trillion PPP) USD, ranking as the 2nd-largest in Latin America, after Brazil, and 11th globally. Mexico ranked 14th globally in exports with $406.4 billion and 13th globally in imports with $407.1 billion in The IMF has projected Mexico’s GDP to grow by 2.3% in (IMF World Economic Outlook Update: October 2015) Mexico handled a total of 5.07 million TEUs in 2014, behind only Brazil and Panama in container volume in Latin America. Mexico’s largest container port, Manzanillo on the Pacific coast, handled 2.36 million TEUs in 2014, followed by Lázaro Cárdenas, which handled 996,000 TEUs, Veracruz, with 847,000 TEUs and Altamira, with 600,000 TEUs. The Government of Mexico has announced plans to double port capacity over the next six years. In August 2012, APM Terminals signed a 32-year concession for the design, construction and operation of a new deep-water terminal at Lázaro Cárdenas (TEC2) with an overall investment of $900 million USD, and the official groundbreaking ceremony was held on November 9th The completed terminal will add 1.2 million TEUs of annual throughput capacity, is projected to become operational in 2016. Project: Lázaro Cárdenas Terminal 2 (TEC2) $900 million USD investment over the term of the concession Phase I: 650 meter quay; 43 hectare (106 acre) yard (Completion 2016) 5 Super-Post Panamax Cranes with 23-container reach APM Terminals’ ownership: 95%

South American West Coast: Callao, Peru
Project: APM Terminals Callao Expansion and Upgrade Investment: $749 million USD over the 30-year concession Capacity: 2.9 million TEUs (Completion 2016) Non–containerized cargo capacity: 9.9 million tons APM Terminals’ share: 51% The Peruvian economy grew by 2.4% in 2014, generating a GDP of $208.2 billion ($376.7 billion PPP) USD. It is the 5th-largest economy in South America, and has been projected by the IMF to grow by 2.4% again in Peru’s largest trading partners are the USA (18.4% of exports; 24.8% of imports) and China (17.8% exports; 15.3% imports). The Port of Callao, 15 km (9 miles) from the Capital City of Lima, handled 1.85 million TEUs in 2013, accounting for 90% of Peru’s total cargo and 70% of the country’s containerized cargo, including most fresh produce and citrus exports, and has been projected to handle 4 million TEUs by (IMF Data: October 2015) APM Terminals was selected by the Peruvian Government to operate Terminal Muelle Norte, now operating as APM Terminals Callao, at the Port of Callao in 2011 and assumed control of the facility in July Construction for the new terminal and yard began on October 4th The facility is being developed into a modern multipurpose terminal for containers, general cargo, Ro-Ro cargo, break bulk and cruise ships with an investment of $749 million USD planned. At full capacity, the terminal will be able to handle 2.9 million TEUs and 9.9 million tons of non‐containerized cargo. APM Terminals Callao handled 470,000 TEU in In March 2014 TIL purchased a 29% share in the terminal. In August, the first four of 12 Super-PostPanamax Cranes were delivered.

South American East Coast: Santos, Brazil
Project: Brasil Terminal Portuário (BTP) Development of new Berths 3,4 and 5 50-year concession JV with TIL/MSC Group Capacity: 1.2 million TEUs (2014) APM Terminals’ ownership: 50% Brazil, which generated a GDP of $2.24 trillion USD in 2014, is the largest economy in South America, and the 7th-largest in the world by PPP ($3 trillion). Brazil is the 5th-largest country in the world by area with a population of 205 million, also ranking 5th globally. Brazil is a becoming an increasingly important market for global containerized trade; with particular growth in commodities such as frozen poultry and soybeans. The Brazilian government has projected a quadrupling of exports by 2030 and has plans to invest $27 billion in port infrastructure improvement to accommodate this anticipated trade growth. Brazilian ports handled a total of 8.6 million TEUs in 2013, representing 39% of total South American port throughput. Santos is South America’s busiest container port, handling 3.4 million TEUs in 2013. With the official opening of Brasil Terminal Portuário in November 2013, APM Terminals currently operates three facilities in Brazil. APM Terminals holds a 50% share in Brasil Terminal Portuário (BTP) at the Port of Santos, South America’s largest container port, which welcomed its first commercial port call in August 2013, and has become the busiest container terminal at the Port of Santos handling 1.47 million TEUs in 2014.

Middle East: Port Said East, Egypt
Project: Suez Canal Container Terminal Phase II 1200 meters of additional berth to 2400 meters 12 new Super-PostPanamax Cranes for a total of 24 Annual throughput capacity doubled to 5.4 million TEUs New access channel project has been approved to allow 24- hour vessel access. APM Terminals’ ownership: 55% The Arab Republic of Egypt has a population of 84 million, the largest among the Arab nations. With a GDP $285 billion ($945 billion PPP) USD in 2014, the Arab Republic of Egypt is one of the most important emerging markets in North Africa, as well as a key transshipment center for Asian and African trade. Port Said, at the mouth of the Suez Canal on the Mediterranean Sea, is a natural transshipment center for Far Eastern cargoes destined for Southern Europe and the Mediterranean/Black Sea Region. The IMF has projected an economic growth rate of 4.2% for (IMF Data: October 2015) More than 17,000 ships transited the Suez Canal in 2014, carrying 822 million tons of cargo. Among these were 6,129 container ships carrying 435 million tons of containerized cargo. (Suez Canal Authority, October 2015) The Suez Canal Container Terminal, located at Port Said East, is a joint venture in which APM Terminals is the majority shareholder. SCCT officially opened in December of 2004 and is one of the largest container ports on the Mediterranean Sea. A recently completed expansion project has doubled its capacity to 5.4 million TEUs; SCCT is the only facility in Egypt able to accommodate vessels of 15,500 TEU capacity. Throughput at SCCT was 3.4 million TEUs in 2014, representing an increase of 9% over An access channel to Port Said East has been officially approved, and will open later in 2016, allowing 24-hour vessel access to SCCT.

Middle East: Salalah, Oman
The Port of Salalah, on the Arabian Sea, is the 2rd-largest container port in the Middle East Region (after Dubai), with a volume of 3.03 million TEUs. The port is located on the East-West trade lane between Europe and Asia and also holds a strategic position for servicing the upper Arabian Gulf, Indian sub-continent Red Sea and East African markets. APM Terminals holds a minority stake in the Port of Salalah, which is now undergoing an expansion which will double the quay length, and increase dry bulk capacity to 20 million tons, and liquid bulk capacity to 6 million tons annually. The Port of Salalah’s Container Terminal was ranked 4th among Middle Eastern container terminal facilities by the JOC Group Productivity Study for 2014, with 96 MPH. Project: Port of Salalah Expansion $143 million USD investment to double general cargo handling capacity 1200 meters of quay; 18 meter depth New annual capacities: 20 million tons dry bulk; 6 million tons liquid bulk APM Terminals’ ownership: 30%

India: Pipavav, Gujarat
Project: APM Terminals Pipavav expansion $200 million USD investment to expand both bulk and container capacity Container berth doubled to 735 meters (2 post- Panamax vessels) 3 new Super-Post Panamax Cranes and 10 new RTGs APM Terminals’ ownership: 43% India is currently the world’s 10th-largest economy- the 3rd-largest by PPP with a GDP of $2 trillion ($7.2 trillion PPP) USD in The IMF has projected an Indian economic growth rate of 7.3% in 2015 and 7.5% in (IMF Data: October 2015) India’s combined container throughput in 2013 was approximately 10 million TEUs; this relatively limited volume highlights the need for port infrastructure investment as the Indian economy continues to grow. APM Terminals currently operates two facilities in India. Port Pipavav in the State of Gujarat, now known as APM Terminals Pipavav, is India's first port in the private sector, and serves as a gateway for the West Coast of India for containers, bulk and liquid cargo. APM Terminals holds a 43% share in Port Pipavav and assumed managerial control in May Container throughput at Pipavav was 780,000 TEUs in 2014, reflecting an annual growth rate of 18%, along with 3.13 million tons of bulk cargo. An expansion now underway will include strengthening the existing berth, additional dredging, 3 new post-Panamax cranes, and 4 new RTGs, which will increase annual throughout capacity to 1.35 million TEUs. In April 2014, a new liquid bulk terminal, operating under sub-lease by the Aegis Group, was officially opened, and in September passenger car exports began through a new NYK dedicated auto handling terminal. Port Pipavav is one of two port facilities in India able to accommodate high-cube double-stack rail cars. Pipavav’s rail terminal grew by 49% over the 12-month period ending in March 2015.

Southeast Asia: Tanjung Pelepas, Malaysia
Project: Port of Tanjung Pelepas Expansion $470 million USD investment 2 New Container Berths; 8 Super-Post Panamax Cranes; 32 E-RTGs Annual container capacity: 8.4 million TEUs APM Terminals’ ownership: 30% The Port of Tanjung Pelepas ranked third in Southeast Asia and 19th globally in container throughput with 8.6 million TEUs in The major transshipment port is located on the Straits of Johor to the north of the neighboring rival Port of Singapore, which handled an annual throughput of 33.8 million TEUs in 2014. APM Terminals holds a minority share in the facility, which has completed a $470 million expansion with the construction of Berths 13 and 14, increasing capacity by 24% to 10.5 million TEUs and upgrading cranes. The new facilities are able to accommodate 18,000 TEU capacity vessels. Malaysia’s GDP has been forecast by the IMF to expand by 4.7% in (IMF Data: October 2015)

Southeast Asia: Cai Mep, Vietnam
Project: Cai Mep International Terminal (CMIT) $260 million USD investment; terminal opened in March 2011 6 Super-Post Panamax Cranes; Vietnam’s only deep-water facility Annual Container Capacity: million TEUs APM Terminals’ ownership: 49% Vietnam has been one of the fastest-growing economies in Asia, expanding by 6% in 2014 to $187.8 billion ($509.5 billion PPP) USD. The IMF has forecast a 6.5% economic growth rate for Vietnam in Terminals in Ho Chi Minh City, on the Saigon River, and Cai Mep in southern Vietnam handled 6.5 million TEUs in 2014, representing 71% of Vietnam’s total container throughput, while northern ports including Haiphong handled another 2.1 million TEUs. (Vietnam Port Association, 2015) (IMF Data: October 2015) Cai Mep International Terminal (CMIT), a deep-water facility in which APM Terminals is a shareholder, began operations in March 2011. Located in the Ba Ria‐Vung Tau Province, southeast of Ho Chi Minh City, CMIT is currently the only terminal in Vietnam capable of accommodating larger deep-draft vessels. CMIT handled 403,000 TEUs in 2014.

Turkey: Izmir Project: APM Terminals Izmir
APM Terminals formalized an agreement with local partners in February 2013 to develop a new deep-water terminal at Aliaga, near the Port of Izmir on the Aegean Coast, 300 km (186 miles) southwest of Istanbul. A total of $400 million USD will be invested by APM Terminals and Petkim, our Turkish partner, in the new facility, which is scheduled to open in February of The concession period is 28 years. The IMF has projected the Turkish economy to grow by 3% in (IMF Global Economic Outlook, October 2015 Update) Combined container throughput at Turkey’s Mediterranean and Black Sea ports was 8.5 million TEUs in In 2014 the Port of Ambarli, on the eastern Black Sea serving Istanbul was the largest with volume of 3.44 million TEUs, followed by Mersin on the Mediterranean Sea with 1.48 million TEUs, and Izmir on the Aegean coast with approximately 800,000 TEUs. Project: APM Terminals Izmir $400 million USD investment by APM Terminals and local partner; Deep-water facility capable of handling 18,000 TEU capacity vessels Initial Annual Container Throughput Capacity: 1.3 million TEUs APM Terminals’ ownership: 100%

China: Port of Ningbo Project: Meishan Container Terminal Expansion
Development of new Berths 3,4 and 5 50-year concession signed in JV with Ningbo Port Group Capacity: 2.8 million TEUs (2014) APM Terminals’ ownership: 25% China has become the world’s second-largest economy, with a GDP of $10.3 trillion USD in 2014 at the official exchange rate ($17.6 trillion USD, and ranked first in size calculated by Purchasing Power Parity). China’s economy has been projected by the IMF to expand by 6.8% in (IMF Data: October 2015) China was the largest merchandise exporter in the world with $2.25 trillion USD in 2014, and the second largest importer (after the USA) at an estimated $1.95 trillion USD. In 2014 China was the world’s leading trading nation with combined imports and exports of $4.2 trillion, (compared with $3.94 trillion for the USA). Chinese ports now account for four out of the top five and six out of the top eight busiest container ports in the world in terms of container throughput, with nearly one out of every three TEUs moving worldwide (32%) handled in Chinese ports. APM Terminals has interests in 11 container facilities at seven Chinese ports, along with extensive Inland Services company network coverage in 19 locations, and maintains offices in Shanghai and the Hong Kong Special Administrative Region. In June 2012, APM Terminals signed an agreement with the Port of Ningbo Group to jointly invest in and operate three berths comprising a one kilometer quay in Ningbo’s Meishan Container Terminal. The new facility is scheduled to be operational by the end of Located in the southern part of the Yangtze River Delta, Ningbo is a major gateway port in Eastern China and the Zhejiang Province. It is the 3rd-largest container port on Mainland China, and the 6th-busiest container port in the world with a throughput of 19.4 million TEUs in 2014.

Demonstrated performance and progress
Port productivity & infrastructure investment

Apapa, Nigeria: Productivity Improvement
Since assuming operational control of Apapa Container Terminal in 2006: Container volume has grown from 200,000 TEUs to 700,000 TEUs; Waiting time to berth has fallen from 14 days to less than one day; USD $350 million in equipment and infrastructure improvements. Before takeover After takeover APM Terminals Apapa is the largest container facility by capacity of the three serving Lagos, Nigeria’s largest city and business center. It is also the largest container terminal operation in West Africa, having more than doubled container traffic after concession began in 2006, with dramatically improved productivity. A new $135 million USD investment and expansion program was announced for APM Terminals Apapa in Regular rail service to two major interior cities was restored in August 2013. Container throughput in 2014 was 700,000 TEUs.

Aqaba, Jordan: An Economic Development Engine
Since assuming operational control of Aqaba Container Terminal in 2006: 704 predominantly (99%) local staff hired, with 33,820 indirect jobs supported; 88% of procurement spending goes to local suppliers and contractors; 75% increase in expenditure on employee wages and benefits ( ); 66% increase in training and development budget from 2008; Overall revenue has grown from USD $46 million to $82.5 million; USD $284 million has been invested in expansion raising annual throughput capacity to 1.5 million TEUs. The Aqaba Container Terminal (ACT) has become the leading job creator in the Aqaba Special Economic Zone Authority, employing 704 staff, 99% of whom are local hires, and indirectly supporting 33,820 jobs. Since assuming operational and managerial control of the Red Sea port in 2006, ACT has more than tripled employee wage and benefit payments from JOD 3.3 million ($4.7 million USD) to JOD 12 million ($16.9 million USD), while the Lost-Time Injury Frequency Rate (LTIF) has continued to decline. Since the successful partnership between APM Terminals and Aqaba Development Corporation was established in 2006, ACT has invested $284 million in infrastructure improvements and upgrades, including expansion programs nearly doubling the berth capacity to 1 km of quayside, as well as investing in state of the art ship-to-shore cranes and yard equipment. The facility during this period has also increased its productivity by more than 20% . ACT is a joint venture between Aqaba Development Corporation (ADC) and APM Terminals which manages and operates the facility in cooperation with ADC through a 25-year build-operate-transfer agreement signed in The terminal now has an annual container throughput capacity of 1.3 million TEUs and is the 2nd–largest container facility on the Red Sea with volume of 787,000 TEUs in 2014. APM Terminals, with local Jordanian partner Kawar Group, officially opened the expanded Aqaba Logistics Village (ALV) in November The newly completed ALV Phase 2 facility includes 13,000 square meters (3.2 acres) of multi-purpose warehousing alongside 40,000 square meters (9.8 acres) of open yard. ALV Phase 2 has been designed to allow the flexibility of handling a wide variety of cargoes as regional and international trading patterns continue to evolve in the Middle East. ALV’s developed land now encompasses 24 hectares (59 acres) with an additional 20 hectares (49 acres) of area expected to be developed within the next two years.

Luanda, Angola: Inland Logistics Park and Improved Operations
2007: Sogester assumes responsibility for operations of Luanda Container Terminal; expansion and refurbishment begin; USD $86 million invested in new equipment and expansion of capacity to 330,000 TEUs yearly; 2009: construction of USD $56 million dedicated inland container depot (ICD) 30 km from port begins; 2010: 200,000 TEU yearly capacity ICD opens with empty container storage, reefer capacity and pre- designated customs scanning areas. In October 2007, the Angolan Government awarded Sogester S.A, an APM Terminals joint venture, a 20-year concession to manage the Sogester Container Terminal at the Port of Luanda. At the time, the average time for a vessel call was 349 hours (two weeks). By September of 2011 improvements in infrastructure and productivity had reduced vessel call duration to 10 hours, or less than half a day. Sogester has to date invested $85 million USD of a budgeted investment of $143 million USD for the concession period. The company directly employs 740 personnel and 300 subcontractors at the Sogester Container Terminal, and the 38 hectare (94 acre) Inland Container Depot (ICD) and Logistics Park 30 km (18 miles) from the port at Panguila. An expansion program at the Luanda Container Terminal has increased the facility’s annual throughput capacity to 400,000 TEUs. At present, vessels employ a combination of mobile harbor cranes and their own gear to load and discharge containers. Two new mobile harbor cranes were delivered in May of 2011, doubling the crane capacity at the terminal. Container throughput at the terminal was 533,000 TEUs in 2014. The outlook is for continued economic expansion and trade growth in one of Africa’s fastest-growing economies, projected at 4.5% expansion in 2015 by the IMF. (IMF Data: April 2015).

Pipavav, India: Financial Performance and Profitablity
2005: APM Terminals assumed a majority shareholding in full-service Pipavav Port and began to invest in equipment and infrastructure; 2010: Port Pipavav has achieved the financial stability to become listed on the Indian Stock Exchange as container volumes grow by 45% to 470,000 TEUs; 2012: Pipavav is profitable, with volume of 570,000 TEUs, and further expansion plans. 2014: Volume of 780,000 TEUs; new liquid bulk facility opens. 2015: Ro/Ro terminal and service opens to handle Indian passenger car exports. Pipavav is India’s first private sector port and fastest growing, and has quickly become an important gateway to India’s northwest, and a crucial port alternative. A full-service facility, Pipavav handles containers, bulk and liquid cargo. APM Terminals assumed control of the full-service facility in 2005 and began a program of investment in expansion and equipment, including dredging to a depth of 14.5 meters, and the installation of new cranes new cranes, which has expanded annual container capacity throughput to 850,000 TEUs, with plans to further grow to 1.35 million TEUS’ capacity. Container throughput was 780,000 TEUs in 2014, reflecting an annual growth rate of 18%, along with 3.13 million tons of bulk cargo. In 2010, Pipavav was listed on the Indian Stock Exchange and conducted a successful initial public offering of company shares, and became a profitable enterprise for the first time in its history. Pipavav added Ro/Ro capability with NYK in 2015, with the first Indian automobile exports departing the facility in August. A second dedicated double-stack train service to northern Indian industrial and commercial centers has also commenced.

Industry-recognized excellence
2015 Awards: Lloyd’s List Global Awards “Port Operator of the Year” Lloyd’s List North American Maritime Awards “Port Operator of the Year” Containerisation International “Innovation of the Year” (APM Terminals Rotterdam Maasvlakte II) Lloyds List Middle East and Indian Subcontinent Awards “Logistics Award” (APM Terminals Inland Services South Asia) NAVIS “Customer Impact Award of Excellence/Hub Partnership” (APM Terminals Algeciras and APM Terminals Tangier) Pacific Maritime Association “Coast Accident Prevention Award” (APM Terminals Pier 400 Los Angeles) Pacific Maritime Association “Southern California Container Terminal Safety Award (APM Terminals Pier 400 Los Angeles) Nigerian Port Authority “Most Environmentally Conscious Port Operator” (APM Terminals Apapa) All India Maritime & Logistics Awards “Container Terminal of the Year” (APM Terminals Mumbai) 2014 Awards: New York Shipper’s Association “Greatest Reduction in Lost-Time Accident Frequency Award” Green Economy Forum “Global Green Award” 2013 Awards: Lloyd’s List Asia Awards “Port Operator Award” Containerisation International “International Terminal Operator of the Year” Express, Logistics & Supply Chain Leadership Awards “Best Inland Services Provider” (APM Terminals India) MALA “Container Terminal Operator of the Year” (APM Terminals Mumbai) MALA “Health, Safety and Quality Award” (APM Terminals Pipavav) Exim India “Container Freight Station of the Year-Private” (Chennai CFS) Volkswagen India “Supplier Appreciation Award” (APM Terminals Mumbai CFS) “National Quality Award” [Morocco] (APM Terminals Tangier) “Best Employer” Award” [Morocco] (APM Terminals Tangier) APM Terminals has become a recognized leader in the industry in operations, innovation, productivity, safety and environmental sustainability, and was most recently named “Port Operator of the Year“ at the Lloyd’s List North American Maritime Awards in 2015, as well as having APM Terminals Pier 400 Los Angeles, named by the Pacific Maritime Association the winner of both the Class A Coast Accident Prevention Award, and the Class A Southern California Terminal Safety Award (for terminals with over 1 million man-hours worked annually). APM Terminals Rotterdam Maasvlakte II was named winner of the Containerisation International “Innovation of the Year” Award for 2015. In 2014 APM Terminals Port Elizabeth has been honored with the New York Shipper’s Association’s Greatest Reduction in Lost-Time Accident Frequency” award, and the Port of Salalah was named a winner of a Global Green Award by the Green Economy Forum in Berlin for their environmental achievements and sustainable practices over the past five years.

Industry-recognized excellence
2012 Awards: Lloyd’s List Global Awards “Port Operator of the Year” Containerisation International “International Terminal Operator of the Year” Containerisation International “Corporate Social Responsibility” Award (Salalah) Nigeria Maritime Excellence Awards “Best Terminal Operator of the Year” (Apapa) All-India Maritime and Logistics Awards “Container Terminal of the Year” (APM Terminals Mumbai) 2011 Social Security Excellence Award for Occupational Health and Safety (Aqaba) Pacific Maritime Association Safety Awards (Pier 400; Tacoma) The Signal Mutual Gerald H. Halpin Safety Excellence Award The Signal Mutual Industry Leader Safety Award Gateway Award of Excellence (APM Terminals Chennai CFS) 2011 Awards: Lloyd’s List Middle East and Indian Subcontinent Safety Award (Port of Salalah, Oman) Lloyd’s List 2011 Global Safety Award Best Port Operator in Africa, Transport Africa Awards 2011 Seatrade 2011 Innovation in Ship Operations Award Pacific Maritime Association Safety Awards Ecoval Trophy 2010 Awards: Special Jury Award, Oman Green Awards Safety at Sea International Award Rotterdam Port Community Award Pacific Maritime Association Safety Awards New York Shipping Association Safety Award Moroccan National “Safety at Work Award”

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