APMM FY & Q4 2023 Financial Results

Highlights Red Sea disruption affects only -1/3 of Maersk Ocean volumes and structural overcapacity challenges will prevail as the year progresses Over- supply Under- supply Supply-demand imbalance 10% 8% 6% 4% 2% 0% -2% -4% Asia-Europe headhaul rate | USD / FFE (Index 100 = Oct '23) 3 months' 180 disruption 160 140 12 months' disruption 120 In balance 100 3 months' disruption 12 months' disruption Scenarios eventually converge with reversion towards Dec-23 rate levels Q4-23 . Q1-24 Q2-24 Initial idle capacity available at ~2% of global fleet Q3-24 Q4-24 80 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 • More capacity Longer dwell time . Longer distance Higher speed Other costs • More equipment Increased carbon tax Network • Extra capacity requirement due to re-routings at ~6-7% of global fleet costs . Effect of new builds at -2-3% net growth per quarter Red Sea disruption will help alleviate Ocean losses in Q1 But overall effect will depend on duration and how quickly additional capacity comes into service, leading to wide range of scenarios for the year Note: Charts illustrative only

View entire presentation