Investor Presentaiton

91 A.P. Moller-Maersk Annual Report 2020 Financials Consolidated financial statements Notes index Note 14 Pensions and similar obligations - continued Table 14.6 Change in net liability 1 January 2019 Current service cost, administration cost etc. Present value of obligations Fair value of plan assets Adjustments Net liability Of which: UK 2,596 2,683 61 -26 -241 30 -5 73 77 103 72 35 9 -4 -7 31 2 Calculated interest expense/income Recognised in the income statement in 2019 Actuarial gains/losses from changes in financial and demographic assumptions, etc. 262 262 Return on plan assets, exclusive calculated interest income 352 -352 207 -310 Adjustment for unrecognised asset due to asset ceiling -1 -1 Recognised in other comprehensive income in 2019 262 352 -1 -91 -104 Contributions from the Group and employees Benefit payments Settlements Internal transfers Effect of business combinations and disposals Exchange rate adjustment 31 December 2019 Amounts in USD million = -1 Multi-employer plans Under collective agreements, certain entities in the Group participate together with other employers in de- fined benefit pension plans as well as welfare/medical plans (multi-employer plans). In general, the contribu- tions to the schemes are based on man hours worked or cargo tonnage handled, or a combination hereof. For the defined benefit pension plans, the Group has joint and several liabilities to fund total obligations. While the welfare/medical plans are by nature contribution plans funded on a pay-as-you-go basis. In 2020, the Group's contributions to the pension and welfare/medical plans are estimated at USD 91m (USD 83m) and USD 277m (USD 295m), respectively. The contributions to be paid in 2021 are estimated at USD 92m for the pension plans and USD 279m for the welfare/medical plans. No reliable basis exists for allocation of the schemes' obligations and plan assets to individual employer par- ticipants. For the pension plans where the Group has an interest and there is a deficit, the net obligations for all employers amounts to USD 0.3bn (USD 0.7bn). This net obligation is based on the most recent available financial data from the plan's trustees, calculated in accordance with the rules for such actuarial calculation in US GAAP. The deficit in some of the schemes may necessitate increased contributions in the future. Welfare/medical plans are 'pay as you go', and form a part of the Group's US collective bargain agreements. They cover a limited part of employees' medical costs as occurred. 27 -141 -130 -27 -22 -11 -5 -5 -1 1 -11 -11 - 73 90 4 -13 2,876 3,078 65 -137 -12 -377 26 -6 55 58 81 52 32 9 -3 -7 29 2 Current service cost, administration cost etc. Calculated interest expense/income Recognised in the income statement in 2020 Actuarial gains/losses from changes in financial and demographic assumptions, etc. 180 180 148 Return on plan assets, exclusive calculated interest income -15 15 50 Adjustment for unrecognised asset due to asset ceiling 11 11 9 Adjustment for minimum funding requirement 1 1 1 Recognised in other comprehensive income in 2020 180 -15 12 207 208 Contributions from the Group and employees Benefit payments Effect of business combinations and disposals Exchange rate adjustment 31 December 2020 21 -21 -16 -139 -127 -12 1 1 100 3,099 98 3,107 3 5 -2 80 72 -185

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