Board of Directors of ZIM Integrated Shipping Services Files Investor Presentation and Issues Letter to Shareholders

Core Viewpoint - ZIM Integrated Shipping Services Ltd. has demonstrated strong operational and financial performance, emphasizing its commitment to shareholder value and ongoing strategic review amid a proxy fight with dissident shareholders [1][2][3]. Company Performance - Since its IPO in 2021, ZIM has achieved total shareholder returns exceeding 300%, outperforming larger global carriers and the S&P 500 [4]. - The company has grown its fleet from approximately 70 to 129 vessels, doubling its TEU carrying capacity, and maintained EBIT margins averaging 30% since the IPO [6]. - ZIM has returned $5.7 billion in dividends since its IPO, equating to over $47 per share, which is more than three times the IPO price [6]. Strategic Review - The Board is conducting a comprehensive strategic review to assess opportunities for enhancing shareholder value, prompted by an unsolicited proposal from the CEO that was deemed to undervalue the company [9][10]. - The review is ongoing and includes evaluating potential alternatives and enhancements to ZIM's standalone plan, with multiple indications of interest received [11]. Board Composition - ZIM's Board is independent and has been significantly refreshed, with five of eight directors added since the IPO, bringing substantial expertise in finance, M&A, and operational leadership [12]. - The independent Board meets weekly to oversee the strategic review process, ensuring active engagement and oversight [12]. Response to Dissident Group - The dissident group's campaign is criticized for being based on misleading assumptions and lacking constructive engagement with the Board [13][15]. - The dissident nominees are noted to have limited relevant experience in shipping and logistics, which raises concerns about their ability to oversee ZIM's strategic review [19][20]. - The Board emphasizes the importance of maintaining independent oversight to protect shareholder value and ensure a successful strategic review [23][24].