Maersk Investor Presentation Deck

Container handling and network costs represent the majority of our unit cost base Unit cost base, 2020 1,909 USD/FFE 2020 unit base O Note: Unit cost base: EBIT costs including VSA income, Hub income and income related to vessel relets. Adjusted for restructuring costs, result from associated companies, gains/losses and derivatives. Container handling costs: Includes costs related to terminal operation (excluding hubs and transhipment); empty costs; container leasing, deprecation of owned and capitalised leased containers, and repair costs; Hamburg Süd Inland and feedering. Network costs excluding bunker: Includes hub cost, transhipment costs and hub depreciation incl. depreciations for capitalised leases; vessel costs related to port and canal fees (Suez and Panama), running costs and crewing of owned vessels, depreciation of owned vessels, depreciation of capitalised leased vessels, time charter of operating leased vessels, cost of slot (capacity) purchases and vessel sharing agreements (VSA) with partners. Bunker costs: Includes costs related to fuel consumption and fuel prices. SG&A and Other costs: Includes costs related to own and third party agents in countries, liner operation centres, vessel owning companies, onshore crew and ship management, service centres and headquarters; administration cost types such as staff, office, travel, training, consultancy, IT, legal and audit, depreciations for other capitalised leases (e.g. leased offices) etc.; Other costs covering bad debt, cargo claims, currency cash flow hedge, indirect tax, non-operational provisions and amortization of intangible assets. 46 Unit cost base, 2020 Appendix Q4 2020 29% Network costs excluding bunker 17% SG&A and other costs 37% Container handling costs 17% Bunker costs MAERSK

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