Maersk Investor Presentation Deck

Financial highlights FY 2020 Strong free cash flow allowing for acquisitions and debt repayments Cash flow bridge for FY 2020, USDm 9,000 8,000 29 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 7,828 Cash flow from operations Annual Report 2020 -1,710 Capitalised lease instalments -1,322 Capex -760 Net financial expenses, incl. lease liabilities 612 4,648 -475 Sale proceeds Free cash flow Acquisitions, and dividend net received -1,327 Dividends and share buy- backs 220 Financial investments, dividends to minorities and others, net -1,880 1,186 Repayment/ Net cash flow proceeds from borrowings, net and Others Free cash flow was USD 4.6bn (USD 2.3bn) after net interests, capitalised lease payments and gross capex. Cash conversion was 95%. CAPEX was USD 1.3bn, which was lower than guidance of USD 1.5bn, while lease payments increased to USD 1.7bn. S&P and Moody's have both lifted their outlook on the credit rating to positive outlook. MAERSK

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