Aktsiaselts Tallink Grupp - NASDAQ OMX Baltic

Key Strengths
We believe that our position as a leading provider of high-quality mini-cruise and passenger transport
services in the Northern Baltic Sea region, as well as a leading provider of ro-ro cargo services on selected
routes, is based on the following key strengths:
• Strong market position;
• High-quality, flexible fleet;
• Broad product offering;
• Strong brand;
• Competitive cost base; and
• Experienced management team with a proven track record.
Strategy
We aim to be the leading provider of high-quality mini-cruise and passenger transport services, as well as the
leading provider of ro-ro cargo services on selected routes, in the Northern Baltic Sea region. Even though our
business has grown rapidly for nearly ten years, we believe that there are additional growth opportunities in the
region over the coming years. The cornerstones of our operating strategy are set out below:
• Continue to invest in our fleet;
• Build upon strong positions on existing routes;
• Pursue new growth opportunities in the Northern Baltic Sea region; and
• Maintain profitability through efficient and flexible management, while seeking revenue growth.
Risk Factors
Before making an investment decision with respect to our shares, prospective investors should, in addition
to the other information contained herein, carefully review the risk factors described in this offering
memorandum. Our business, financial condition and results from operations could be adversely affected by each
of such risks, which may relate to us, our business environment and changes therein, our geographical market
area, investing in our shares and other matters, and investors may lose the value of their investment in whole or
in part. These risks are not the only ones we face. Additional risks and uncertainties not presently known to us, or
that we currently believe to be immaterial, could also adversely affect our business. For a more detailed
description of the risks relating to our business, see “Risk Factors.”
Management
Our corporate governance, management and administration are divided among our shareholders represented
at the general meetings of shareholders, our supervisory council and our management board. The general meeting
of shareholders approves, among other things, the annual report, the auditors’ report and the distribution of
profits. Resolutions may be adopted at either annual or extraordinary general meetings of shareholders. The
supervisory council is responsible for planning our business activities, organizing our management by electing
members to the management board, approving our budget and supervising the activities of our management
board. The management board manages our daily business affairs. The current members of our supervisory
council are Toivo Ninnas, Andres Lipstok, Eve Pant, Ain Hanschmidt, Sunil Kumar Nair and Kustaa Lauri Äimä.
Our current management board members are Enn Pant, Kalev Järvelill, Andres Hunt and Keijo Mehtonen.
Shares and Shareholders
As of the date of this offering memorandum, our registered share capital amounted to EEK 1,100,000,000
consisting of 110,000,000 fully paid shares with a nominal value of EEK 10 each (each, a “Share” and, together,
the “Shares”). Each Share entitles its holder to one vote at our general meetings of shareholders. We have one
class of shares and all Shares rank pari passu in all respects.
We had 252 shareholders as of November 18, 2005. The ten largest shareholders held in the aggregate more
than 90 percent of all of our Shares and votes, while our largest shareholder, Aktsiaselts Infortar (“Infortar”),
alone held more than 55 percent of the Shares and votes. Infortar is an Estonian investment company with
interests in the shipping, real estate and printing industries. The principal shareholder of Infortar is an Estonian
holding company, Linandell OÜ, which is controlled by Enn Pant, Chairman of our management board and our
CEO; Kalev Järvelill, a member of our management board; and Ain Hanschmidt, a member of our supervisory
council.
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