Maersk Results Presentation Deck

Maersk Group - Interim Report 03 2015 MAERSK DRILLING Contents Maersk Drilling delivered a profit of USD 184m (USD 192m) generating a ROIC of 9.0% (10.7%), positively affected by fleet growth, cost savings and strong operational performance, but negatively affected by increased idle time. The result was further affected by an additional gain of USD 9m (USD 73m) re- lated to the sale of the Venezuela business in 2014. The underly- ing profit was USD 172m (USD 118m). The economic utilisation of the fleet was 85% (89%) adversely affected by increased idle time and Mærsk Deliverer on yard stay. The average operational uptime was 97% (97%) for the jack-up rigs and 98% (96%) for the floating rigs. Though at significantly lower day rates compared to previous contracts, the new contracts and extensions signed in Q3 added MAERSK DRILLING HIGHLIGHTS Revenue **********. Tax Net operating profit/loss after tax (NOPAT) Cash flow from operating activities Cash flow used for capital expenditure Invested capital Profit/loss before depreciation, amortisation and impairment losses, etc. (EBITDA) Depreciation, amortisation and impairment losses, net Gain on sale of non-current assets, etc., net Share of profit/loss in joint ventures Profit/loss before financial items (EBIT) ROIC, annualised USD 1.1bn to Maersk Drilling's revenue backlog. At the end of Q3 2015, Maersk Drilling's forward contract coverage was 85% for the remaining part of 2015, 70% for 2016 and 49% for 2017. The total revenue backlog by the end of Q3 2015 amounted to USD 5.8bn (USD 6.6bn). Operational uptime ....….... Contracted days Revenue backlog (USD bn) Maersk Drilling decommissioned and recycled the jack-up rig Maersk Endurer (built 1984) from the fleet in July 2015. The semi-submersible rig Mærsk Deliverer finalised yard stay as planned and was back on operating rate mid-September 2015. Operating costs increased due to new rigs entering the fleet and starting operation during the last five quarters partly off- set by the divestment of the Venezuela business in Q3 2014. 03 2015 646 369 143 12 238 54 184 382 -44 8,092 9.0% 97% 1,834 03 2014 525 227 78 74 8 231 39 192 127 -673 7,710 10.7% 97% 1,603 USD MILLION 9 months 2014 2015 1,900 1,073 402 41 8 720 150 570 910 -775 8,092 9.4% 97% 5,305 5.8 1,467 617 199 83 9 510 85 425 379 -2,003 7,710 8.8% 97% 4,499 6.6 15/40

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