APM Terminals 30-Yr Callao Terminal Concession

Press Release May 13, 2011

Terminal Muelle Norte at Peru’s largest port is the latest of three expansions into new areas won by APM Terminals this year.

Lima, Peru- The new 30-year concession contract for the development and operation of Terminal Muelle Norte at the Port of Callao was signed today by Peruvian President Alan Garcia and representatives of APM Terminals and local partner Central Portuária S.A.C. in the Presidential Palace in Peru’s Capital City of Lima.

“Our vision is to transform Terminal Muelle Norte into a powerful economic generator for the people of Peru and to develop a world-class full-service port and infrastructure on the West Coast of South America” said APM Terminals Vice President for Business Development, Americas Henrik Lundgaard Pedersen. Mr. Pedersen signed the contract on behalf of APM Terminals, and Klaus Burger signed as the representative of minority shareholder Central Portuária S.A.C. which is part of the APM Terminals Callao consortium.

On April 1st the Government of Peru named APM Terminals Callao the winner of the bidding process which also attracted submissions from Hutchison Port Holdings. The terms of the concession include the investment of USD 749 million to update and expand the existing facility into a modern multi-purpose terminal serving general, Ro-Ro, break bulk and containerized cargos as well as cruise ships.

“The key management positions have been filled and we are in the process of hiring administrative and operations staff as well as executing contracts with suppliers; orders have already been placed for new forklifts and reach stackers so that we will be ready to take over operations by July” said APM Terminals’ Head of Implementation, Søren Sjostrand Jakobsen. The contract calls for APM Terminals to assume operational control of the terminal within 60 days of signing the concession agreement.

Planned improvements include the construction of a new grain silo and other related cargo handling improvements over the coming years. Also planned are the construction of new berths and the expansion of the container handling capabilities including new Post Panamax STS cranes and RTG’s. When built to full capacity, Terminal Muelle Norte will employ approximately 1,500 personnel and will be able to handle 2.9 million TEUs and 9.9 million tons of non‐containerized cargo annually. APM Terminals also operates local cargo inland services company Almacenes de Contenedores Sudamerica (ALCONSA) in Peru, with locations in Callao and Paita.

“We are grateful for this opportunity to serve the people of Peru and for the confidence that the Peruvian Government has placed in APM Terminals and our global port and inland services network” said Mr. Pedersen.

The Muelle Norte concession is the third and most recent addition to the APM Terminals portfolio this year. In March, the Government of Costa Rica awarded APM Terminals a 33 year concession for the design, financing, construction, operation and maintenance of the new Moin Container Terminal. In April, APM Terminals announced the acquisition of the majority shareholding in the Poti Sea Port on the Black Sea in the Republic of Georgia.

In other APM Terminals portfolio developments this year, operations commenced at the Port of Monrovia, Liberia on February 1st following formal ratification of the 25-year concession agreement by the Liberian government last October 2010, and on March 15th Cai Mep International Terminal, in which APM Terminals holds a minority share, opened for operations as the only deep-water port in Vietnam with the ability to accommodate vessels larger than 10,000 TEUs.