Page 1

Press Release Vopak reports on HY1 2021 financial results Rotterdam , the Netherlands , 28 July 2021 Vopak Q2 2021 Q1 2021 303.1 300.1 Q2 2020 in EUR millions 292.4 Revenues HY1 2021 HY1 2020 603.2 589.3 Results -excluding exceptional items- 206.2 200.4 202.4 124.6 121.3 129.8 Group operating profit before depreciation and amortization ( EBITDA ) Group operating profit ( EBIT ) 406.6 402.6 245.9 256.8 76.1 73.1 83.4 0.61 0.58 0.66 Net profit attributable to holders of ordinary shares Earnings per ordinary share ( in EUR ) 149.2 166.1 1.19 1.31 Results -including exceptional items- 136.5 54.9 6.4 0.05 200.4 121.3 73.1 0.58 235.4 162.8 Group operating profit before depreciation and amortization ( EBITDA ) Group operating profit ( EBIT ) 336.9 433.9 176.2 288.1 116.4 0.91 Net profit attributable to holders of ordinary shares Earnings per ordinary share ( in EUR ) 79.5 197.4 0.63 1.55 141.5 -153.3 124.0 -138.6 264.7 -171.4 Cash flows from operating activities ( gross ) 265.5 407.4 Cash flows from investing activities ( including derivatives ) - 291.9 - 141.6 Additional performance measures 249.5 245.6 245.6 22.3 22.2 21.4 88 % 89 % 90 % Proportional EBITDA -excluding exceptional items- Proportional capacity end of period ( in million cbm ) Proportional occupancy rate 35.9 35.7 34.4 87 % 88 % 88 % Storage capacity end of period ( in million cbm ) Subsidiary occupancy rate 10.6 % 10.3 % 12.1 % Return on capital employed ( ROCE ) 4,644.8 4,478.3 2,927.2 2,723.6 4,105.2 2,450.4 Average capital employed Net interest - bearing debt 2.86 3.09 2.60 2.82 2.81 Senior net debt : EBITDA 2.81 Total net debt : EBITDA 495.1 486.6 22.3 21.4 88 % 88 % 35.9 34.4 87 % 86 % 10.5 % 11.8 % 4,552.8 4,190.1 2,927.2 2,450.4 2.86 2.81 3.09 2.81 Highlights for HY1 2021 -excluding exceptional items- : • . . • EBITDA of EUR 407 million ( HY1 2020 : EUR 403 million ) . Adjusted for EUR 15 million negative currency translation effects , EBITDA increased by EUR 19 million ( 5 % ) . Growth project contribution in the first half 2021 is driving positive EBITDA performance in soft business conditions . Proportional occupancy rate of 88 % ( HY1 2020 : 88 % ) unchanged reflecting positive movements in the Netherlands , Belgium and Singapore offset by Fujairah , Panama and Indonesia . Cost efficiency measures are tracking well and the cost level for HY1 2021 amounted to EUR 298 million ( HY1 2020 : 295 million ) including cost for growth projects and business development efforts . EBIT of EUR 246 million ( HY1 2020 : EUR 257 million ) , adjusted for negative currency translation effects , EBIT increased by EUR 1 million . Depreciation charges were higher in HY1 2021 compared to HY1 2020 mainly due to higher depreciation for new capacity delivered as well as due to sustaining capex investments . Return on capital employed ( ROCE ) of 10.5 % ( HY1 2020 : 11.8 % ) . Net profit attributable to holders of ordinary shares of EUR 149 million ( HY1 2020 : EUR 166 million ) reflecting less capitalized interest in HY1 2021 . Earnings per ordinary share ( EPS ) of EUR 1.19 ( HY1 2020 : EUR 1.31 ) . • • The Senior net debt : EBITDA ratio is 2.86 at the end of HY1 2021 . Q2 2021 events : • In the second quarter of 2021 , the greenfield industrial terminal in Qinzhou , China , with an initial capacity of 290,000 cbm started operations . • On 22 June 2021 , Vopak announced that it has been awarded by Huizhou QuanMei Petrochemical Terminal Co. , Ltd. , a contract for storage and services of a liquid products terminal in China . The planned terminal will be constructed and operated as part of ExxonMobil's proposed Huizhou