#1Søren Skou Chief Executive Officer Transforming A.P. Moller - Maersk MAERSK#2We have gained solid execution momentum and are starting to deliver superior outcomes. 2016 Framing the transformation 2017-2019 Activating the transformation 2019-2021 Gaining execution momentum 2021-2023 Achieving superior outcomes 2023-2025 "Always on" Transformation MAERSK#3Bringing together three strong businesses with significant and tangible synergies to deliver average returns above 12% in 2021-2025 Logistics & Services I | I Customer Synergies + ||| IIIIII Ocean Technology Financial & Operational I + Terminals I MAERSK#4Technology driving competitive advantage I I | | | Technology | | I | I 會 Building in-house technology powerhouse Working integrated with the business Customer uptake of digital solutions accelerating Across platforms, channels, and for our digital products Using technology to drive internal efficiency Automation of terminals, fuel efficiency, data products to support decision making MAERSK#5>6% EBIT margin in normalised conditions III IIIIII Ocean Ocean has become a higher quality business, more resilient at higher earnings levels Reduced volatility Agile capacity management Improved view of demand Long term contracts Differentiated products Differentiated offerings to meet our customers' diverse supply chain needs CAPEX discipline Competitive scale achieved with Hamburg Süd acquisition Grow through efficiency and focus on replacement MAERSK#6>10% organic growth >6% EBIT margin Logistic & Services We have built a strong growth engine in Logistics & Services Improved product portfolio Comprehensive product offering New digital products Truly integrated logistics for our customers Expanded partnerships Growing collaboration with customers Ocean customers buying more Logistics & Services products Strengthened organisation Attracted industry experts with Logistics and Service capabilities while fostering internal talent development Growth momentum Proof points of organic growth Accelerated inorganic growth with three successful acquisitions MAERSK#7>9% ROIC Terminals We are on the way to deliver superior returns in Terminals Step-change in results Improved ROIC, now ahead of peers Doubled EBITDA margin since 2017 Realising synergies with Ocean Satisfied customers NPS growing double-digit every year since 2017 Expanding offering to create value for customers Best-in-class operator New operating model: APMT Way of Working Automation roll-out in modular approach Selective growth Focusing on organic growth and investments in existing locations Selected new investments with synergies with Ocean or best- operator MAERSK#8When the time is right, we will take additional steps to focus the portfolio MAERSK SUPPLY SERVICE ● Optimised and rightsized core business • Diversified into new industries ● • Increasingly focusing on emerging opportunities in floating wind • Continue to strengthen the business until the right divestment option is possible MAERSK CONTAINER INDUSTRY • Focused Reefer specialist • Solid financial results ● • Strong external customer base • Initiated review of strategic options MAERSK#9The next step in building the Integrator 6000 Continue the strengthening of Ocean and Terminals 18 Rapid growth in Logistics & Services - organic and inorganic $+ Focus the portfolio on the integrator $+ Decarbonise logistics MAERSK#10MAERSK