Maersk Results Presentation Deck

A.P. Moller Maersk Group - Interim Report 02 2015 APM TERMINALS Contents APM Terminals delivered a profit of USD 161m (USD 223m) and a ROIC of 10.9% (14.2%). The underlying profit was USD 159m (USD 211m). The result was negatively impacted by a revenue reduction of 8.6% caused by decreased volumes in key oil de- pendent markets as well as divestments in 2014 and weakening of local currencies against the USD resulting in lower revenue in USD terms. The number of containers handled by APM Terminals (weighted with APM Terminals' ownership interest) decreased by 6% com- pared to 2014, reaching 9.2m TEU (9.8m TEU). This was impacted by the divestment of APM Terminals Virginia, Portsmouth, USA and Terminal Porte Océane S.A. Le Havre, France during 03 2014. Excluding these, like-for-like volumes decreased by APM TERMINALS HIGHLIGHTS .............. Tax Net operating profit/loss after tax (NOPAT) 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 joint ventures Share of profit/loss in associated companies Profit/loss before financial items (EBIT) Cash flow from operating activities Cash flow used for capital expenditure Invested capital ROIC, annualised 3.5% in Q2, whereas the overall global container market grew approximately by 4.3% in 02 (Drewry). Containers handled (measured in million TEU and weighted with ownership share) Number of terminals The lower oil price resulted in significantly less import volumes in West Africa and Russia, which was partially offset by vol- ume ramp up in Santos, Brazil. Revenue improvement and cost savings initiatives have been implemented across the global portfolio successfully delivering improvements of more than USD 100m in the first half of 2015, however the impact from the adverse market conditions was only partly mitigated. The share of profit from joint venture and associate companies remained in line with last year at USD 54m (USD 53m). 02 2015 1,033 206 77 2 32 22 185 24 161 176 -169 5,995 10.9% 9.2 02 2014 1,130 260 73 18 28 25 258 35 223 192 -215 6,384 14.2% 9.8 USD MILLION 6 months 2014 2015 2,169 426 147 10 71 42 402 51 351 447 -391 5,995 11.9% 18.3 65 2,222 525 145 16 47 45 488 50 438 497 -335 6,384 14.1% 19.2 66 15/42

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