Wallenius Wilhelmsen meets 2023 emissions reduction target

Oslo, April 29, 2024 - Wallenius Wilhelmsen (OSE: WAWI) has updated its progress on emissions targets and performance related to its sustainability-linked financing framework ("the framework") established in 2022. In 2023, Wallenius Wilhelmsen met its CO2 intensity target. Our emission performance improved as a result of a range of different initiatives undertaken to improve energy efficiency onboard our vessels and reduce our fleet's emissions. Furthermore, we have expanded the portfolio of possible vessel upgrades in line with our strategic ambition to intensify efforts in this critical area. Biofuel has become an integrated part of our fuel mix. During 2023 we successfully began bunkering B30 biofuel blend products on several vessels, and in 2024 we anticipate we will replace more than ten percent of our total fuel consumption with biofuel blends. Quickly becoming an important element in many contract discussions, we expect demand to continue to grow amongst customers increasingly looking to reduce their Scope 3 CO2 emissions. B30 contains 30 percent biofuel feedstock and 70 percent conventional fuel and brings approximately 25 percent lower CO2e emissions than conventional fuel. The chosen KPI for the framework is the fleet weighted average CO2 intensity. In 2023 the KPI ended at 5.54 gCO2 per GT.nm compared to the target of 5.56 gCO2 per GT.nm, reduced from 5.89 gCO2 per GT.nm in 2022. The effect of reaching our target is a reduction in interest cost of 5 to 10 basis points for the following 12-month period related to drawn amounts under USD 875m of sustainability-linked bank loans. It has no impact on the pricing of the issued sustainability-linked bonds, where the performance measurement will be done at the end of the last fiscal year prior to maturity. Lasse Kristoffersen, CEO and President at Wallenius Wilhelmsen, says: "Our ambition is to lead the transformation of shipping and logistics, and our emission targets are embedded in the company strategy. I am pleased to note that we delivered on our targets despite trade disruptions, port congestion and general supply-chain upsets. Going forward, we will continue to systematically cut emissions and deliver on our recently introduced goal to reach net-zero emissions in 2040." The full progress report, including a verification statement from DNV, is available on https://www.walleniuswilhelmsen.com/who-we-are/investors. For further information, please contact: Anders Redigh Karlsen, VP IR & Market Insight Tel: +47 994 20 293 Email: anders.karlsen@walwil.com Media: David Hopkins, External Communications Manager Tel: 942 88 486 Email: david.hopkins@walwil.com About Wallenius Wilhelmsen The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (RoRo) shipping and vehicle logistics, managing the distribution of cars, trucks, rolling equipment and breakbulk to customers all over the world. The company operates around 125 vessels servicing 15 trade routes to six continents, a global inland distribution network, 66 processing centers and eight marine terminals. With a head office in Oslo, Norway, the Wallenius Wilhelmsen group has 9,500 employees working across 28 countries worldwide.

Source: NewsWeb