Investor Presentaiton

117 A.P. Møller-Mærsk A/S Annual Report 2020 Financials Parent company financial statements Notes Parent company financial statements Activities comprise holding of shares in subsidiaries and associated companies, as well as funding, procurement and cash management. In the parent company financial statements, shares in subsidiaries and associated companies are recognised at cost, cf. note 19, less impairment losses, and in the income statement, dividends from subsidiaries and associated companies are recognised as income. The net profit for the year was USD 601m (loss of USD 10m). The main difference is financial expenses as 2019 was impacted by impairment loss on the Maersk Drilling Holding A/S demerger. Furthermore, reversal of provi- sions, etc. reduces operational costs compared to 2019. Cash flow from operating activities was negative USD 76 (negative USD 368). Total assets amounted to USD 40.5bn (USD 38.3bn) and total equity was USD 24.1bn (USD 24.7bn) at 31 December 2020. Note 1 118 Revenue Note 2 118 Operating costs Note 11 126 Provisions Note 12 126 Financial instruments and risks Note 3 Note 13 119 Gain on sale of companies and non-current assets, etc., net 131 Financial instruments by category Note 4 Note 14 119 Financial income and expenses 132 Pledges Note 5 120 Tax Note 15 133 Commitments Note 6 Note 16 121 Investments in subsidiaries and associated companies 133 Contingent liabilities Note 7 Note 17 133 Cash flow specifications 122 Deferred tax Note 18 Note 8 134 Related parties 122 Share capital Note 19 Note 9 135 Significant accounting policies 123 Share-based payment Note 10 125 Borrowings and lease liability reconciliation Note 20 135 Significant accounting estimates and judgements =

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