FINANCIAL RESULTS FOR FY2022 3RD QUARTER

Dear Valued ONE Customers,

Please be advised that effective February 27th, 2023, Ocean Network Express (ONE) will introduce an updated outbound demurrage calculation in the North America region (the US and Canada), matching with the ocean terminals’ Earliest Return Date (ERD) and ONE’s Rail Receipt Date (RRD).

Currently ONE has been applying the concept of the Demurrage Free Receiving Date (DFRD) for the outbound demurrage calculation to avoid factoring in the vessel schedule delay into the outbound demurrage calculation. Effective February 27th, 2023, ONE will implement an updated logic consistent with ERD from the ocean terminals.

We have received the information below from Union Pacific (UP). “Be advised that due to a main line service disruption near Santa Rosa, NM, Union Pacific (UP) will temporarily suspend service between the ports of LA/Long Beach and Council Bluffs, Kansas City, Chicago (Global 4) and Chicago interchange to eastern carriers (Ohio valley)”.

Effective 12:00 local time Tuesday, January 24th, 2023, temporary ingate suspensions will go into effect for the following lanes:

We have received the information below from Union Pacific (UP). “Be advised that due to a main line service disruption near Santa Rosa, NM, Union Pacific (UP) will temporarily suspend service between the ports of LA/Long Beach and Council Bluffs, Kansas City, Chicago (Global 4) and Chicago interchange to eastern carriers (Ohio valley)”.

Effective 12:00 local time Tuesday, January 24th, 2023, temporary ingate suspensions will go into effect for the following lanes:

In order to continuously provide reliable service and best prevention efforts, Ocean Network
Express (ONE) will implement a surcharge, Compensation for Breach of Agreement (CBA),
for all shipments being misstated. The new level will be applicable across all trade lanes and
services and will be valid until further notice.