52. Events after the Balance Sheet Date

The Federal Administrative Court reached a decision on the dredging of the river Elbe on 9 February 2017. It does not lead to a revocation of the plan approval for the dredging of the river Elbe. According to the court’s ruling, however, the plan approval is unlawful in part due to violations of habitat conservation law and is therefore not enforceable in the first instance. Two points (review of potential harm to the hemlock water dropwort due to the increase in salt levels in connection with the project as well as provisions on cohesive measures) that the Federal Administrative Court explicitly classifies as remediable must be revised. An approximate timeline for the practical and procedural implementation of the measures needed to rectify these shortcomings is not yet available. As such, no reliable forecasts of a possible starting date for construction can be made.

There were no other events of special significance after the balance sheet date 31 December 2016.

Hamburg, 2 March 2017

Hamburger Hafen und Logistik Aktiengesellschaft

Angela Titzrath – Chairwoman of the Executive Board (signature)

Angela Titzrath

Dr. Stefan Behn (signature)

Dr. Stefan Behn

Heinz Brandt (signature)

Heinz Brandt

Dr. Roland Lappin (signature)

Dr. Roland Lappin