ZIM Integrated Shipping Services Ltd. Board Updates on Ongoing Strategic Review Process

ZIM Integrated Shipping Services Ltd. announced an update on its ongoing strategic review process. The Board of Directors has received multiple competitive proposals from strategic parties for the acquisition of all outstanding ordinary shares and is currently evaluating them to maximize shareholder value. A revised proposal from an entity owned by the CEO and President, Eli Glickman, and Rami Ungar was considered and declined by the Board as it significantly undervalued the Company. The strategic review, now in its advanced stages, includes consideration of a potential sale of the Company and other value creation alternatives. ZIM cautions that there is no certainty that any transaction will occur. The company does not plan to provide further updates until an agreement is reached or the review is completed.