Maersk Results Presentation Deck

A.P. Moller Maersk Group - Interim Report 02 2015 MAERSK LINE Contents Maersk Line reported a profit of USD 507m (USD 547m) and an underlying profit of USD 499m (USD 543m). Despite a sharp de- cline in the average freight rate of 14.1%, Maersk Line delivered a 10.1% (10.8%) ROIC based on its cost leadership strategy. Revenue of USD 6.3bn was 9.2% lower than 02 2014, primarily driven by the decline in the average freight rate to 2,261 USD/ FFE only partly offset by a volume increase of 3.7% to 2,484k FFE. The freight rate decline was largely attributable to bun- ker cost savings being passed through to the customers and to deteriorating market conditions on the Asia-Europe trade. Recognised freight revenue was USD 5.6bn (USD 6.3bn) and other revenue USD 617m (USD 612m). MAERSK LINE HIGHLIGHTS Tax Net operating profit/loss after tax (NOPAT) Cash flow from operating activities Cash flow used for capital expenditure Revenue 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 associated companies Profit/loss before financial items (EBIT) Invested capital ROIC, annualised. Global container demand is expected to have grown between 1-2% in 02 2015 compared to Q2 2014. The soft market develop- ment was primarily due to weak imports into Europe. Transported volumes (FFE in '000) Average freight rate (USD per FFE) Unit cost (USD per FFE incl. VSA income) ********. Average bunker price (USD per tonne) Maersk Line fleet, owned Maersk Line fleet, chartered Fleet capacity (TEU in '000) Estimated EBIT-margin gap to peers was at 6.8%-points in 01 2015. This remains consistent with Maersk Line's ambition to sustain a gap over it's peers above 5%-points. Unit cost decreased by 13.1% to 2,246 USD/FFE benefitting from decreased bunker prices and the USD appreciation. Bunker cost decreased 40.1% compared to 02 2014. Bunker efficiency remained on par with last year at 902 kg/FFE (903 kg/FFE). 02 2015 6,263 998 476 8 530 23 507 873 -861 20,340 10.1% 2,484 2,261 2,246 335 02 2014 6,902 1,024 461 4 567 20 547 870 -488 20,176 10.8% 2,396 2,634 2,585 579 USD MILLION 6 months 2014 2015 12,517 2,200 945 12 -1 1,266 45 1,221 1,844 -1,063 20,340 12.2% 4,691 2,370 2,342 346 278 341 3,077 13,365 1,886 836 20 1,070 69 1,001 1,583 -856 20,176 9.9% 4,639 2,631 2,598 580 271 306 2,763 11/42

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