FINANCIAL RESULTS FOR FY2022 2ND QUARTER

The global economy continues to come under pressure from high energy costs, rising interest rates and inflation. Whilst supply chain bottlenecks continue to impact some geographies and industry sectors. Overall though, inland and port logistics fluidity continues to improve. At ONE, we continue to enhance our end to end customer journey, decarbonize our supply chain and reconnect face to face with our staff, customers and business partners as Covid 19 travel restrictions roll back.

On 9/15/22, a tentative agreement was reached between rail carriers and unions averting a potential work action on 9/16. Since this tentative agreement was reached, there have been multiple ratification votes by the membership of the 12 unions in negotiation with the National Carriers' Conference representing the rail carriers.

This is to provide update to the Schedule Recovery Measures that were in place on TransPacific Service EC5. As outlined below, a number of changes were previously implemented on this string in order to properly recover schedule integrity.

Due to heavy delays for intermodal rail deliveries of transpacific eastbound cargo via PSW ports, “change of destination” (COD) administrative charges will be waived when changing destination on bills of lading from an ”intermodal rail point” routed via Los Angeles, Long Beach, or Oakland (PSW) to local PSW ports.

Please be advised that Union Pacific (UP) has announced a new requirement for High- Security Seals to be affixed to all Intermodal containers. UP anticipates this requirement to become effective Mid-2023.

Ocean Network Express (ONE) is pleased to announce the launch of the enhanced new ONE QUOTE, allowing for a seamless customer experience
when using ONE’s eCommerce website.

Ocean Network Express (“ONE”), together with partners the Consortium, have jointly proposed to acquire all the outstanding common shares of Atlas Corp(NYSE:ATCO) on Aug 4th. The consortium believes it has made meaningful progress in its discussions with the Special Committee of the Board of Directors of Atlas as announced by Poseidon Acquisition Corp, who is acting on behalf of the consortium.

This is to provide update to the Schedule Recovery Measures that were in place on TransPacific Services EC1, E2, and PN4.

This is to inform you that restrictions will be implemented on some Inbound Cargo to Japan during the upcoming New Year’s Holiday.