#1MAERSK 166 MAERSK MAERSK MAERSK MAERSK MAERSK MAERSK MAERSK MAERS MAERSK MAERSK MAERSK MAERSK MAERS MAERSK MAERSK MAERS MAERSK MAERSK MAERSK MAERSK MAERSK MAERSK MAER MAERSK MAERSK MAERSK MAERSK MAERSK ALL THE WAY TO ZERO A.P. Møller-Mærsk A/S Q3 2023 Investor Presentation I MAERSK MAERSK#2Forward-looking statements 2 APMM Q3 2023 Financial Results This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties as various factors, many of which are beyond the control of A.P. Møller-Mærsk A/S (APMM), may cause actual developments and results to differ materially from the expectations contained in this presentation Comparative figures Unless otherwise stated, all comparisons refer to y/y changes. Unless otherwise stated, all figures in parentheses refer to the corresponding figures for the same period prior year MAERSK#33 Q3 2023 Highlights APMM Q3 2023 Financial Results MAERSK#4Highlights Third quarter in line with expectations, market environment worsening Group revenue of USD 12.1bn, with EBIT margin of 4.4% Despite a volume recovery in Q3, freight rates declined at an accelerated pace with further significant headwinds expected • Continued volatile environment with worsening market conditions in Ocean from increased supply, highlighting the need to focus on efficiency and costs Full-year financial guidance maintained but APMM now expects results towards the lower end of the previously communicated EBIT and EBITDA ranges 4 APMM Q3 2023 Financial Results MAERSK#55 Highlights Comprehensive focus on costs and organizational efficiency intensified . Restructuring measures expanded . ⚫ Workforce reduced from 110,000 to 103,000 (end of Q3) . ⚫ Further measures announced to reduce below 100,000 Expected savings of USD ~600m in 2024 Restructuring costs now expected at USD 350m Continuous focus on cost measures and efficient utilisation of our assets Given the expected continuation of the difficult market environment, APMM is lowering CAPEX and considering all options to preserve cash including reviewing the continuation of the share buy-back programme in 2024 APMM Q3 2023 Financial Results MAERSK#66 Third quarter 2023 Ocean • Increased volumes combined with excellent asset utilisation Supply side risk started to materialize, impacting rates with Ocean now at break-even High levels of additional supply expected in Q4 and next year with idling and scrapping now expected to remain at low levels Normalized to 100 300 250 200 150 EBIT margin (%) 50% 40% 30% 20% 10% MAERSK 100 0% -10% 50 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 -20% 18 18 18 18 19 19 19 19 20 20 20 20 21 21 21 21 22 22 22 22 23 23 23 Revenue Loaded volumes - Total Operating Costs APMM Q3 2023 Financial Results EBIT margin MAERSK TOW 120#77 Third quarter 2023 Logistics & Services • • . Volumes recovered while we achieved good customer wins Lower rates, especially in Air and Landside transportation. E-commerce as well as Retail & Lifestyle verticals remain challenged, particularly in North America Increased cost management led to EBIT margin stabilizing Progressive margin recovery expected despite weaker rate environment EBIT EBITDA (USDM) Revenue (USDm) 400 300 200 5,000 4,000 3,000 100 0 -100 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 18 18 18 18 19 19 19 19 20 20 20 20 21 21 21 21 22 22 22 22 23 23 23 EBITDA EBIT ― Revenue APMM Q3 2023 Financial Results FRAGILE RAGILE FRAGILE MAERSK#8Third quarter 2023 Terminals Continued robust, attractive returns with strong EBITDA margin (35%) despite normalisation of storage revenue and inflationary pressure Volumes slightly down year-on-year, fully driven by exits and ongoing construction (flat like-for-like) ROIC (LTM) above 2021 levels Revenue (USDm) ROIC (%) 1,200 1,131 1,089 1,124 1,117 20 1,027 969 999 999 1,000 915 950 876 15 13.1 800 12.5 12.8 12.3 11.9 10.9 11.4 10.0 10.3 600 8.7 10 7.4 8.2 7.1 7.4 7.6 400 8 200 5 0 112 Q1 Q2 Q3 Q4 Q1 21 21 21 21 22 22 Q2 Q3 Q4 22 22 22 23 1133 Q1 22 0 Q2 Q3 23 23 ― Revenue ROIC ...ROIC excl. Impairment in Russia APMM Q3 2023 Financial Results Z ZEMC 70MC MAERSK#99 2021-2025 Expected downturn in Ocean calls for continued focus on transformation of APMM Intensified cost efforts will accelerate our strategic shift Targets Segment ΚΡΙ LTM APMM Return on invested capital (ROIC) - (LTM) Every year >7.5% Average 2021-25 >12.0% 17.7% Ocean EBIT margin - under normalised conditions Above 6% 20.0% Execute with the existing fleet size 4.1-4.3m TEU 4.2m Logistics Organic revenue growth Above 10% -14% & Services - hereof from top 200 Ocean customers Min. 50% N/A EBIT margin Above 6% 3.7% Terminals Return on invested capital (ROIC) - (LTM) Above 9% 10.3% 2021-2025 mid-term targets were introduced at the CMD in May 2021 APMM Q3 2023 Financial Results MAERSK#10Guidance Full-year 2023 financial guidance . APMM now sees global container volume growth in the range of -2% to -0.5% compared to -4% to -1% previously. APMM expects to grow in-line with the market Full-year 2023 financial outlook: A.P. Moller-Maersk maintains its outlook ranges but now expects results towards the lower end of the previously communicated ranges of underlying EBITDA of USD 9.5 - 11.0bn and underlying EBIT of USD 3.5 - 5.0bn. Guidance for free cash flow (FCF) of at least USD 3.0bn remains unchanged ⚫ CAPEX is now expected at around USD 8.0bn for 2022-2023 (previously USD 9.0 - 10.0bn) and USD 8.0-9.0bn for 2023-2024 (previously USD 10.0 - 11.0bn) 10 Restructuring costs increased to USD 350m (previously USD 150m) of which the majority will be recognized in 2023. Total cost savings in 2024 expected to be around USD 600m APMM Q3 2023 Financial Results EBITDA underlying 9.5-11.0 At lower end of range USDbn EBIT underlying 3.5-5.0 At lower end of range USDbn CAPEX guidance 2022-2023 ~8.0 USDbn Free cash flow ≥3.0 USDbn CAPEX guidance 2023-2024 8.0-9.0 USDbn MAERSK#1111 Q3 2023 Financial review APMM Q3 2023 Financial Results MAERSK#12• . Financial review Financial highlights of Q3 2023 Solid results in absolute terms with continuing erosion of rates, stronger volumes and cost measures Q3 EBITDA decreased to USD 1.9bn, generating a margin of 15.5%, while EBIT decreased to USD 0.5bn reflecting a margin of 4.4% ⚫ Net profit after tax for the third quarter of 2023 was USD 0.6bn compared to Q3 2022 (USD 8.9bn) and Q2 2023 (USD 1.5bn) Free cash flow of USD -0.1bn, driven by lower profitability • Cash returns to shareholders amounted to USD 763m during the quarter through share buy-backs and USD 13.2bn in the first nine months of 2023 Total cash & deposits of USD 21.9bn with a net cash position of USD 6.8bn at the end of Q3 Restructuring costs increased to USD 350m³, expected to lead to total cost savings of around USD 600m in 2024 1) USD 450 million impairment and restructuring charges (thereof USD 150 million restructuring) announced in February 2023 2,500 positions to leave in 2023, rest to expand in to 2024. The majority of the increase in restructuring cost is expected to impact 2023 Revenue 12.1bn (-46.7%) EBIT 0.5bn (-94.3%) ROIC, LTM 17.7% (-48.9ppts) Q3 2023, USD EBITDA 1.9bn (-82.4%) Free cash flow -0.1bn (-) NIBD -6.8bn (unchanged) 12 APMM Q3 2023 Financial Results MAERSK#13Third quarter 2023 Free cash flow at break-even, mainly impacted by lower cash conversion. Cash flow bridge for Q3 2023, USDM 1,385 1,400 1,200 1,000 800 600 400 200 0 -200 -400 -816 -819 337 151 -124 -785 -25 -2,566 -2,724 414 Repayment Net cash flow of/proceeds from borrowings, net Operational cash flow of USD 1.4bn (USD 9.4bn) decreased due to lower EBITDA of USD 1.9bn (USD 10.9bn). Gross CAPEX was slightly lower compared to Q3- 22 (USD 906m), mainly driven by Terminals and Ocean Free cash flow was USD -124m (USD 7.8bn) with a cash conversion of 74% The divestment of U.S. Marine Management Inc. was completed in Q3 2023 Net cash flow of USD -2.7bn reflecting inflows from divestments and bond issuance, outflows from share buybacks and placements of short-term deposits -2,800 -3,000 -3,200 Cash flow Capitalised from lease operations instalments Gross capex Financial Sale proceeds Free cash flow Acquisitions payments, net and dividends received Dividends net and share buy-backs Financial investments and others, net 13 APMM Q3 2023 Financial Results Note: Sum may differ due to rounding MAERSK#14Third quarter 2023 Ocean 10,000 • ⚫ Revenue decreased by 56% to USD 7.9bn, mainly due to 58% lower freight rates partially offset by a volume increase of 5%. Sequentially, freight rates declined 14% ⚫ EBIT decreased by USD 8.8bn to negative USD 27m due to lower freight rates, partly offset by lower operating costs, notably for bunker costs (lower bunker price and consumption), as well as container handling costs and slot charter costs 8,000 6,000 4,000 2,000 0 -2,000 14 APMM Q3 2023 Financial Results Development in EBIT (USDM) and EBIT margin (%) 50% --- 40% 30% 20% 10% 0% -10% Q3 21 Q4 21 Q1 22 Q2 22 EBIT Q3 22 Q4 22 EBIT margin Q1 23 Q2 23 Q3 23 Revenue EBITDA Q3 2023 (USDm) 7,897 Q3 2022 (USDm) 18,018 1,133 9,924 EBITDA margin 14.3% 55.1% EBIT -27 8,734 EBIT margin -0.3% 48.5% Gross capital expenditures 443 520 MAERSK#15Ocean Third quarter 2023 EBITDA decrease mainly due to lower freight rates EBITDA bridge for Ocean for Q3 2023, USDm USDM 11,000 658 9,924 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 EBITDA Q3-22 235 331 752 -9,402 Volume effect Freight rate effect Bunker price Container handling cost Network cost excl. Bunker price ' *Includes revenue recognition and bunker hedges 15 APMM Q3 2023 Financial Results 1,133 -1,365 Other revenue, SG&A net FX impacts and others * EBITDA Q3-23 MAERSK#16Ocean Third quarter 2023 - Volumes increase but freight rates continue to decline at pace • • Average freight rates decreased by 58%, with both contract rates and shipment rates declining. Sequentially, rates declined by 14.3% Loaded volumes were up 5% to 3,166k FFE Average operated fleet capacity was 3.1% lower than in Q3 2022 resulting in high capacity utilisation Based on volumes for the first nine months, our share of Ocean contract volumes for the full year is anticipated to be 68% (in line with 2022) At the end of Q3 2023, 1.4m FFES were signed on multi-year contracts Ocean KPIs Q3 2023 Q2 Q/Q Q3 Y/Y 2023 change 2022 change Average freight rate (USD/FFE) 2,095 2,444 -14% 5,046 -58% Operated capacity ('000 TEU) 4,166 4,136 0.7% 4,298 -3.1% Loaded volumes ('000 FFE) 3,166 2,906 8.9% 3,016 5.0% Contract share definition 2021 2022 2023e Contracts 65% 68% 68% Total volume split* Shipments 35% 32% 32% 16 APMM Q3 2023 Financial Results *) According to new definition since Q1 2023 MAERSK#17• Ocean Third quarter 2023 Third consecutive quarter of unit cost decrease USD/FFE 4,000 Operating costs decreased by 19% driven by lower bunker prices, lower container handling costs and lower slot charter costs 3,000 Total bunker costs decreased 39% to USD 1.5bn, driven by a 34% decrease in average bunker price to USD 593 per tonne and a 7.5% decrease in bunker consumption 2,000 Operating costs excluding bunker decreased by 10% (year 1,000 • over year), which combined with 5% higher volumes, led to a unit cost at fixed bunker of USD 2,287, equivalent to a decrease of 11%. Sequentially, unit cost at fixed bunker decreased by 4.3% 17 APMM Q3 2023 Financial Results 0 Q1 21 Q2 21 22 Q3 21 Q4 21 Q1 22 Q2 22 22 22 == Unit cost, fixed bunker* * Fixed bunker price of 550 USD/FFE Loaded FFEK 3,500 3,000 2,500 2,000 1,500 1,000 Q3 22 Q4 22 == Loaded FFEK Q1 23 23 Q2 23 Q3 23 MAERSK 500#18Third quarter 2023 Logistics & Services Development in EBIT (USDM) and EBIT margin (%) 8% 300 6% 200 Revenue decreased by 16% to USD 3.5bn (USD 4.2bn) with organic revenue declining 22%. Retail and Lifestyle sectors continued to be challenged, especially in North America 4% 100 2% Additional impact from lower rates in Air and Road transportation 0 0% Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 . EBIT was USD 136m, generating an EBIT margin of 3.9%, up 50 bps sequentially Profitability decreased compared to Q3 22, as a result of lower rates and partly lower volumes Revenue Gross Profit EBIT EBIT margin Q3 2023 (USDm) Q3 2022 (USDm) 3,517 4,182 1,085 1,020 EBITDA 339 394 EBITDA margin 9.6% 9.4% EBIT 136 258 EBIT margin 3.9% 6.2% Gross capital expenditures 196 163 18 APMM Q3 2023 Financial Results MAERSK#19Logistics & Services - Third quarter 2023 Lower rate effect continues • . Managed by Maersk revenue decreased by USD 142m to USD 586m (USD 728m) with EBITA margin improving to 18% (10%) Fulfilled by Maersk revenue decreased by USD 66m to USD 1.3bn (USD 1.4bn), driven by lower volumes and rates in Warehouse and Distribution, Middle Mile and E-commerce in North America and partly offset by growth from LF Logistics. EBITA margin was -2% (3%) Revenue, USDM Managed by Maersk - growth % Q3 2023 Q3 2022 586 728 (20)% Fulfilled by Maersk 1,327 1,393 -growth % (5)% Transported by Maersk 1,604 2,061 - growth % (22)% Total 3,517 4,182 (16)% - growth % . 19 Transported by Maersk revenue decreased by USD 457m to USD 1.6bn (USD 2.1bn), due to lower rates in Air, LCL and Inland, particularly in North America and Europe. EBITA margin was 6% (8%) APMM Q3 2023 Financial Results USDM Q3 2022 M&A Organic Q3 impact impact 2023 Revenue 4,182 235 -901 3,517 Growth % 6% -22% EBITA 295 9 -125 179 MAERSK#20Third quarter 2023 Terminals Development in EBIT (USDM) and EBIT margin (%) • • Compared to last year, revenue decreased by 11% to USD 1.0bn due to lower storage and 4.1% lower volume (-0.3% like-for-like) due to exits and ongoing construction in India. Sequentially revenue increased 5% EBIT decreased to USD 270m, driven by lower storage revenue and net gain from divestments and impairments reported in Q3 2022. Overall margins remained strong due to effective cost initiatives offsetting inflationary pressures. ⚫ ROIC (LTM) increased to 10.3% 400 300 200 100 0 -100 IMI 40% 30% 20% 10% 0% Q3 21 Q4 21 Q1 22 Q3 22 Q3 22 Q4 22 EBIT EBIT margin Q1 23 Q2 23 Q3 23 -10% Q3 2023 (USDm) Q3 2022 (USDm) 999 1,117 353 391 EBITDA margin 35.3% 35.0% EBIT 270 357 EBIT margin 27.0% 32.0% Gross capital expenditures 113 199 Revenue EBITDA 20 20 APMM Q3 2023 Financial Results MAERSK#21Terminals Third quarter 2023 Resilient margins despite significantly lower revenue • Terminals' volume decreased by 4.1%, due to exits and construction in India, but the net impact on EBITDA is positive due to better location mix USDM 500 Terminals' EBITDA bridge 391 400 -2 15. -70 353 • Utilization dropped to 76% (81%) due to a 5.9% increase in capacity 19 300 . ⚫ Revenue per move decreased by 6.5% (-6.4% like-for-like) to USD 314, impacted by normalisation of storage revenue 200 . ⚫ Cost per move decreased by 5.0% (unchanged like-for-like) as cost savings were offset by higher depreciation from ongoing modernization and expansions 100 22 21 APMM Q3 2023 Financial Results EBITDA Q3 2022 Volume effect Volume mix & FX Revenue Cost EBITDA Q3 2023 MAERSK#2222 22 Third quarter 2023 Towage & Maritime Services. Development in EBIT (USDM) and EBIT margin (%) ⚫ US Marine Management Inc (USMMI) divestiture completed in Q3 2023 with a net gain on sale before taxes of USD 94m Revenue decreased to USD 483m (USD 591m) mainly due to the divestment of Maersk Supply Services, contraction in Maersk Container Industries partly offset by increased activity in Svitzer EBIT increased to USD 194m (USD 100m) driven primarily by gain on sale of U.S. Marine. Management and gain from sale of shares of Höegh Autoliners AS 150 100 50 Revenue EBITDA EBITDA margin EBIT APMM Q3 2023 Financial Results 200 40% 30% 20% 10% 0 0% -50 -10% -100 -20% -150 -30% Q3 21 Q4 21 Q1 22 Q2 22 EBIT Q3 22 Q4 22 Q1 23 EBIT margin Q2 23 Q3 23 Q3 2023 (USDm) Q3 2022 (USDm) 483 591 90 127 18.6% 21.5% 194 100 EBIT margin 40.2% 16.9% Gross capital expenditures 60 58 MAERSK#23Questions and answers To ask a question, please press 1 Reminder: ONE question per turn 23 APMM Q3 2023 Financial Results MAERSK#24미 미 ALL THE WAY TO ZERO LAURA MERSK 24 APMM Q3 2023 Financial Results 13 C3 LAURA MÆRSK + Final remarks 11 1AP Q3 in line with expectations Market conditions worsening 2023 guidance maintained - EBIT/EBITDA now expected towards lower end Cutting CAPEX and intensifying cost efforts to cushion downturn Reviewing further measures including share buy-back continuation Reinforcing commitment to integrator strategy#25Appendix 25 25 APMM Q3 2023 Financial Results MAERSK#26Financial highlights Q3 2023 Revenue EBITDA EBIT CAPEX Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 USD million %A %A %A %A 2023 2022 2023 2022 2023 2022 2023 2022 Ocean 7,897 18,018 -56% 1,133 9,924 -89% -27 8,734 -100% 443 520 -15% Logistics & Services 3,517 4,182 -16% 339 394 -14% 136 258 -47% 196 163 20% Terminals 999 1,117 -11% 353 391 -10% 270 357 -24% 113 199 -43% Towage & Maritime Services 483 591 -18% 90 127 -29% 194 100 94% 60 58 3% Unallocated activities and -767 -1,141 33% -37 26 -242% -35 28 -225% 7 -34 121% eliminations, etc. A. P. Moller - Maersk 12,129 22,767 -47% 1,878 10,862 -83% 538 9,477 -94% 819 906 -10% consolidated 26 APMM Q3 2023 Financial Results MAERSK#27Financial highlights Consolidated financial information Income statement (USDm) Q3 2023 Q3 2022 9M 2023 9M 2022 Key figures and financials (USDm) Q3 2023 Q3 2022 9M 2023 9M 2022 Revenue 12,129 22,767 39,324 63,709 Profit/loss for the period 554 8,911 4,364 24,340 EBITDA 1,878 10,862 8,752 30,273 Gain/loss on sale of non-current assets etc., net -136 -439 -68 EBITDA margin 15.5% 47.7% 22.3% 47.5% Impairment losses, net. 21 -79 342 519 Depreciation, impairments etc. 1,584 1,649 5,035 4,574 Transaction and integration cost 30 -10 109 49 Gain on sale of non-current 136 439 68 assets, etc., net Tax on adjustments 20 20 Share of profit in joint ventures 108 260 315 -29 Underlying profit/loss 489 8,818 4,396 24,840 and associates EBIT 538 9,477 4,471 25,738 Earnings per share (USD) 31 488 250 1,318 EBIT margin 4.4% 41.6% 11.4% 40.4% Lease liabilities (IFRS 16) 10,632 11,672 11,632 11,672 Financial items, net 153 -303 327 -800 Net interest-bearing debt -6,844 -6,855 -6,844 -6,855 Profit/loss before tax 691 9,174 4,798 24,938 Invested capital 49,080 53,386 49,080 53,386 Tax 137 263 434 598 Total Equity (APMM total) 55,973 60,231 55,973 60,231 Profit/loss for the period 554 8,911 4,364 24,340 Total market capitalisation 29,490 32,099 29,490 32,099 27 APMM Q3 2023 Financial Results MAERSK#28Financial highlights Consolidated financial information 28 Cash flow statement (USDm) Profit/loss before financial items Q3 2023 Q3 2022 9M 2023 9M 2022 538 9,477 4,471 25,738 Non-cash items, etc. 1,437 1,354 4,603 4,582 Change in working capital -435 -1,207 930 -3,486 Taxes paid -155 -180 -527 -558 Cash flow from operating activities (CFFO) 1,385 9,444 9,477 26,276 CAPEX -819 -906 -2,395 -3,268 Capital lease instalments - repayments of lease liabilities -816 -811 -2,463 -2,219 Financial expenses paid on lease liabilities -139 -135 -422 -377 Financial payments, net 114 -56 745 -267 Sale proceeds and dividends received 151 251 739 500 Free cash flow (FCF) -124 7,787 5,681 20,645 Acquisitions, net (incl. sales) 337 -2,982 992 -4,517 Dividends and share buy-backs -785 -870 -13,292 -8,955 Repayments of/proceeds from borrowings, net 414 -105 152 -752 APMM Q3 2023 Financial Results MAERSK#29Financial highlights Balance sheet and capital allocation Debt & cash position Q3 2023 Q2 2023 Q3 2022 • Borrowings 4,221 3,847 3,852 • Lease liabilities 10,632 10,968 11,672 Other 243 244 513 Total gross debt 15,096 15,059 16,037 Cash and bank balances 7,630 10,423 8,334 Short term deposits 14,310 11,478 14,558 Securities 248 Total cash and deposits 21,940 22,149 22,892 Net interest-bearing debt -6,844 -7,090 -6,855 29 APMM Q3 2023 Financial Results Strong balance sheet maintained Commitment to shareholder returns and maintaining investment grade MAERSK#300 -2 -4 -6 Financial highlights Q3 2023 Positive inflow from operating cash flow and divestments offset by CAPEX and SBB resulted in a slight decrease in NIBD Development in net interest-bearing debt Q3 2023, USD bn 0.0 0.5 -6.8 -7.1 0.8 0.3 -8 1.9 0.8 0.2 0.2 0.4 -10 NIBD Q2 2023 EBITDA Change in working capital Financial payments Sale proceeds Gross capex Acquisitions, and dividends net & Tax paid received Dividends and share buy-backs (3) 1) 2) 3) New Capitalised leases (BS Impact) Other (2) NIBD Ultimo Q3 2023 Defined as cash and securities, term deposits, and undrawn committed facilities longer than 12 months less restricted cash and securities. Includes but not limited to: Sale/purchase of securities, Currency translation of debt balances, intercompany transactions involving debt as well as hedges on debt. Based on dividends and purchase of treasury shares. 30 APMM Q3 2023 Financial Results 11.0 0.5 0.8 10.6 Total Net New Lease Total Capitalised capitalised repayments Capitalised Leases (BS leases Leases (BS Impact) Impact) Q2-23 Q3-23 Liquidity reserve (1) decreased to USD 26.8bn by end Q3 2023. Investment grade credit rating of BBB+ (stable) from S&P and Baa2 (positive) from Moody's. Net interest-bearing debt decreased to a net cash position of USD 6.8bn (USD 12.6bn at year-end 2022), of which USD 10.6bn is capitalised leases. Net cash position end of Q3-23 was USD 17.5bn (excl. capitalised leases). MAERSK#3195 95 90 85 80 75 70 65 60 50 555 15 10 L050 31 Financial highlights Q3 2023 Earnings distribution to shareholders DKK bn 15.8 19.7 74.4 36.7 12.3 46.3 3.9 5.2 3.2 5.3 5.0 4.4 4.4 5.3 6.2 6.6 6.5 6.4 3.1 3.1 3.1 3.0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 YTD Extraordinary dividend (Danske Bank) Executed share buy back Dividends Note: Dividend and share buy back in the year paid/repurchased SBB excluding long-term incentive programme shares Based on dividends and purchase of treasury shares Adjustments to 2020-2022 dividends compared to earlier presentations due to revised methodology APMM Q3 2023 Financial Results MAERSK#32New versus old definition Contract share definition 32 APMM Q3 2023 Financial Results Contract share definition 2021 2022 2023e Contracts 65% 68% 68% New definition (Total volume split) Shipments 35% 32% 32% Contracts, 71% 70% 70% Old definition (Long Haul Long-Haul volume split) Shipments, 29% 30% 30% Long-Haul MAERSK#33Thank You Investor Relations Contacts Stefan Gruber Head of Investor Relations +45 3363 3484 Mikkel Johansen Senior Investor Relations Officer +45 2330 2950 Charlotte Singerholm Gert Hansen Investor Relations Coordinator +45 2296 3322 E-mail: [email protected] Financial Calendar 8 February 2024 Annual Report 2023 Annual General Meeting Q1 2024 Interim Report 14 March 2024 2 May 2024 7 August 2024 Q2 2024 Interim Report 31 October 2024 Q3 2024 Interim Report 33 APMM Q3 2023 Financial Results Share Information Market Share classes Sector Segment Nasdaq Copenhagen A: two votes per share B: no voting rights Industrials Large MAERSK