• Continued operation of Balboa and Cristobal terminals depends solely on actions of the Panama Supreme Court and the Panamanian State
• Publication of a Panama Supreme Court ruling for termination of PPC’s Panama concession that renders PPC operations at Balboa and Cristobal illegal makes any continued operation of the terminals impossible
• CKHH has notified A.P. Moller-Maersk A/S that any assumption by APM Terminals of operations of the two terminals without the agreement of CKHH will cause damages to CKHH, HPH and PPC, and will result in recourse against APMT
• Third parties warned against colluding in any unlawful action relating to the operation of the two terminals
Hong Kong SAR, 12 February 2026: CK Hutchison Holdings Limited (“CKHH”) announces that it has notified the Republic of Panama of a dispute pursuant to an investment protection treaty in order to protect its rights and interests, and invited consultations in an ongoing effort to resolve measures taken by the Panamanian State that have impacted CKHH and Panama Ports Company S.A. (“PPC”), an indirect subsidiary of CKHH.
CKHH took this step based on cumulative measures by the Republic of Panama, including the announcement by the Judicial Branch on 29 January 2026 regarding the Supreme Court of Justice of Panama’s determination that Law No. 5 of January 16, 1997 (“Law No. 5”) is unconstitutional. (....)