Maersk Results Presentation Deck

Maersk Group - Interim Report 03 2015 DEVELOPMENTS IN THE QUARTER Maersk Line placed its third newbuilding order this year with the signing of a contract for nine 14,000 TEU vessels with a value of USD 1.1bn, and with the option of an additional eight vessels, to be delivered in 2017. Maersk Oil's Culzean field was sanctioned by the UK govern- ment, and as operator Maersk Oil is now placing orders for the field development capex programme of around USD 4.5bn. The field is expected to produce enough gas to meet 5% of total UK demand at peak production in 2020/21. Production is ex- pected to commence in 2019. In August, the Norwegian Ministry of Petroleum and Energy approved the field development plan for the first phase in the Norwegian Johan Sverdrup field, where Maersk Oil is ex- pected to contribute around USD 1.8bn in capex. Production is expected to commence in 2019. One of the partners has filed a complaint to the "King in Council" regarding the ownership split of the field. A response is expected later this year. In September, APM Terminals announced the agreement to acquire 61% in Grup Marítim TCB (TCB), the leading Spanish container terminal operator, with terminals located in Spain, Colombia, Brazil, Mexico, Guatemala and Turkey. In October, APM Terminals signed an agreement to acquire the remain- ing 39%. APM Terminals' global terminal network will grow from 61 to 72 terminals in 37 countries across five continents. The 11 acquired TCB terminals add an additional 4.3m TEU in capac- ity and 3.5m TEU in estimated annual container volumes to the APM Terminals portfolio. The acquisition has an implied enterprise value of USD 1.1bn with capex investments of USD 400m over the next five years. Subject to regulatory approv- als the transaction is expected to be completed in 01 2016. Contents Maersk Drilling signed two new contracts. Maersk Resilient secured a three-year contract and Mærsk Giant received a contract for 150 days, both for work in the Danish sector of the North Sea. Furthermore, Maersk Drilling signed four con- tract extensions; a 16 month extension for Mærsk Innovator working in Norway, a five-year extension for Heydar Aliyev working in the Caspian Sea in Azerbaijan, a three-year ex- tension for Maersk Discoverer working offshore Egypt and a 250 day extension Maersk Resolve in the Danish ector of the North Sea. Although at significantly lower day rates com- pared to previous contracts, the new contracts and exten- sions added USD 1.1bn to Maersk Drilling's revenue backlog. The share buy-back programme of up to DKK 6.7bn (USD 1bn) is to be executed during a 12-month period from 1 September 2015. As of 30 September, 74,098 shares have been repurchased (14,972 A shares and 59,126 B shares) for USD 118m. 4/40

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