Hapag-Lloyd signs merger agreement with ZIM

• Combined business would exceed a standing capacity of over 3 million TEU with more than 400 vessels and transport more than 18 million TEU p.a.
• Customers to benefit from a significantly strengthened network
• Special State Share (Golden Share) in ZIM held by the State of Israel to be transferred to a new dedicated Israeli container line owned by FIMI Opportunity Funds (FIMI)
• Approvals of ZIM shareholders and regulatory authorities expected by late 2026

Today, Hapag-Lloyd signed an agreement with ZIM Integrated Shipping Services Ltd., the world's 10th largest container shipping line, under which Hapag-Lloyd will acquire 100% of ZIM's shares for a consideration of USD 35.00 per share in cash. The total transaction value amounts to over USD 4 billion.

FIMI, Israel's largest and leading private equity fund, will take ownership of a carved-out container liner business that will serve some of the most important strategic trade-lanes, seamlessly connect to the global network of Hapag-Lloyd and in combination enhance and secure the global maritime connectivity for the State of Israel. The new container line will start with 16 modern, sizeable, and efficient vessels and take over full responsibility for ZIM's Golden Share as well as the ZIM brand.

The completion of the envisaged transactions is subject, among others, to approval by ZIM's shareholders and the relevant regulatory authorities.

The business combination of Hapag-Lloyd and ZIM would secure Hapag-Lloyd's market position as the fifth-largest container shipping company worldwide with a modern fleet of over 400 vessels, a standing capacity of 3 million TEU, and an annual transport volume of more than 18 million TEU. The combined business would strengthen the network on all major global trades and consolidate their leadership in key growth markets. The transaction is estimated to generate several hundred million USD of annual synergies. Hapag-Lloyd and ZIM will leverage the highly skilled workforce and cutting-edge technologies of both companies to build an even stronger combined team that will remain very customer centric, focused on profitable growth and delivering superior quality to customers around the globe.

“ZIM is an excellent partner for Hapag-Lloyd”, said Rolf Habben Jansen, CEO of Hapag-Lloyd. “Customers will benefit from a significantly strengthened network on the Transpacific, Intra Asia, Atlantic, Latin America and East Mediterranean. We share the same ambitions: great customer service, outstanding operational quality, and a commitment to digital innovation – all powered by the expertise and passion of our people worldwide. We will use this opportunity to create the best team from the exceptional talent in ZIM and Hapag-Lloyd – in Israel and around the globe – and we commit ourselves to build a very substantial and long-term presence in Israel. Together, we will set new benchmarks of excellence and secure our position as the undisputed number one for quality in our industry.”

“Today's announcement is the culmination of a thorough strategic review conducted by ZIM's Board of Directors dedicated to maximizing shareholder value. The decision reflects a comprehensive evaluation of all available options to ensure the best possible outcome for the company's investors. We believe that it represents the most prudent and beneficial transaction for all ZIM stakeholders that further advances the tremendous value creation track record that we have established since our IPO,” said Yair Seroussi, Chairman of ZIM's Board of Directors.

Ishay Davidi, Founder and CEO of the FIMI Funds: "FIMI recognizes and believes in the strategic importance for the State of Israel of a strong independent Israeli shipping company. We will create a stable Israeli company, the new ZIM, and view Hapag-Lloyd as a significant strategic partner for its on-going operations. New ZIM will integrate significant transatlantic capabilities, alongside additional shipping routes to Europe, Africa, the Mediterranean Sea and the Black Sea, supported by advanced global maritime transport capabilities, while continuing to place the customer at the center of its operations. New ZIM will work to provide its customers with the highest level of service. FIMI intends to leverage its experience and strategic capabilities to lead New ZIM toward stable operations and uncompromising quality, while maintaining a deep commitment to its employees, suppliers and customers”.

Until the closing of the transaction, Hapag-Lloyd and ZIM will remain competitors and do “business as usual”. Their operational collaboration will stay limited to existing vessel sharing and slot charter agreements. The necessary approvals of regulatory authorities and ZIM shareholders are expected by late 2026.

About Hapag-Lloyd
With a fleet of 305 modern container ships and a total transport capacity of 2.5 million TEU, Hapag-Lloyd is one of the world's leading liner shipping companies. In the Liner Shipping segment, the Company has around 14,000 employees and 400 offices in 140 countries. Hapag-Lloyd has a container capacity of 3.8 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 130 liner services worldwide ensure fast and reliable connections between more than 600 ports on all continents. In the Terminal & Infrastructure segment, Hapag-Lloyd has equity stakes in 22 terminals in Europe, Latin America, the United States, India and North Africa. Around 3,000 employees are assigned to the Terminal & Infrastructure segment and provide complementary logistics services at selected locations in addition to the terminal activities.

About ZIM
Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with established operations in more than 90 countries serving approximately 33,000 customers in over 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers' innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at http://www.zim.com.

About FIMI
FIMI is the leading private equity firm in Israel with more than $9 billion in assets under management. Since its founding by Ishay Davidi in 1996, FIMI has successfully completed 108 investments, executed 78 exits with total transaction value of more than $6 billion, and raised seven funds. FIMI is the largest industrial body in the Israeli economy and one of the biggest employers in the country. Companies controlled by FIMI have more than 50,000 employees in 50 factories around Israel and another 100 factories and companies worldwide.

Disclaimer
“This document contains forward-looking statements within the meaning of applicable securities laws, including, where applicable, the U.S. Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. Actual results can differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, many of which are beyond the control of the Hapag-Lloyd AG (“Hapag-Lloyd”), including those set forth from time to time in its press releases and reports and those set forth from time to time in its analyst calls and discussions. Forward looking statements speak only as of the date made. We do not assume any obligation to update the forward-looking statements contained in this presentation.

This document is for informational purposes only and does not constitute an offer to sell or a solicitation or offer to buy any securities, or a solicitation of any vote, consent or approval, in any jurisdiction and no part of this document shall form the basis of or may be relied upon in connection with any offer or commitment whatsoever. This document is made available solely for your information and is subject to change without notice.

The distribution of this press release and the offering of securities, if any, in certain jurisdictions may be restricted by law. Persons into whose possession this press release comes must inform themselves about, and observe, any such restrictions. This press release is not intended for release, publication or distribution, directly or indirectly, in any jurisdiction where to do so would be unlawful.

Additional Important Information and Where to Find It

In connection with the proposed transaction, Zim Integrated Shipping Services Ltd. (“ZIM”) will prepare a proxy statement to be delivered to its shareholders and furnished to the Securities and Exchange Commission (the “SEC”). INVESTORS AND SECURITY HOLDERS ARE STRONGLY ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE AND OTHER RELEVANT DOCUMENTS FILED OR FURNISHED TO THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN, BECAUSE THE PROXY STATEMENT AND SUCH OTHER RELEVANT DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. This press release is not a substitute for the proxy statement or any other document that may be filed or furnished by ZIM with the SEC.

The proxy statement and other related documents filed or furnished to the SEC regarding the proposed transaction may be obtained for free from the SEC's website (www.sec.gov).

Press contacts
Nils.Haupt@hlag.com / +49 40 3001-2263
Tim.Seifert@hlag.com / +49 40 3001-2291

Contact for investors
Alexander.Drews@hlag.com / +49 40 3001-3705