Maersk Results Presentation Deck

A.P. Moller Maersk Group - Interim Report 02 2015 DEVELOPMENTS IN THE QUARTER Second generation Triple-E vessels Maersk Line signed a contract for 11 second generation Triple-E vessels with a value of USD 1.7bn to be delivered in 2017-18, and with the option for additionally six vessels. The vessels will have a capacity of 19,630 TEU (twenty-foot equivalent) each. The new vessels will be the largest in Maersk Line's fleet and are intended for the Asia-Europe service whe they will re- place smaller, less efficient vessels. Johan Sverdrup The partners in the Norwegian Johan Sverdrup field have re- ceived the ruling from the authorities on the apportionment of the ownership of the field, which increased Maersk Oil's share from 8.12% to 8.44%. Final authority sanctioning of the plan for development and operation is expected in Q3, pending approval by all partners of the revised equity split. The award of major procurement contracts for living quarter top-sides, drilling rig etc. continued during 02 in accordance with the schedule. Qatar tender process Qatar Petroleum initiated an evaluation process in Q2 for the selection of a partner to undertake the future development of the Al Shaheen field, as the current agreement expires mid- 2017. Around 40% of Maersk Oil's total entitlement production came from Al-Shaheen in 2014. Maersk Oil is confident it can offer the state of Qatar a competitive, reliable and unique value proposition for the future development of Al Shaheen given Maersk Oil's extensive technical knowledge of this complex field which has been built over decades in close partnership with Qatar Petroleum. The outcome of the tender process is expected during second half of 2016. Ghana terminal signed APM Terminals will invest USD 0.8bn in a newbuild container terminal and road infrastructure upgrade next to its present Contents facility in Tema, Ghana, with 3.5m TEU annual throughput capacity. The investment will fund the development of a new greenfield joint venture port outside of the present facility, and an upgrade of the roads linking the port to the nation's capital, Accra. The Tema project will result in four deep-water berths, a new break- water and an access channel able to accommodate the world's largest container ships. STATUS ON THE GROUP'S PRIORITIES FOR 2015 Position the Maersk Group for a new oil environment In order to adapt our business to the current substantially lower oil price, cost saving initiatives have been and are being imple- mented across the Group. Maersk Oil has launched an extensive cost transformation programme to improve profitability and position Maersk Oil for growth in a lower price environment. Maersk Oil expects to reduce the net operating costs excluding exploration with 10% by the end of 2015 compared to the 2014 baseline. This is in line with the targeted 20% reduction by the end of 2016. APM Terminals has implemented revenue improvement and cost savings initiatives in each of its terminals contributing more than USD 100m in the first half of 2015. Since the launch of Maersk Drilling's cost reduction and effi- ciency enhancement programme in 04 2014, Maersk Drilling has delivered 5% savings on the operating cost level, excluding positive rate of exchange effects, for the first six months of 2015 vs same period last year through e.g. restructuring of the head office, re-negotiated supplier contracts and enhancement of the operational performance. Maersk Supply Service initiated early in the year cost saving initiatives which have resulted in sustainable savings across cost categories, hereunder a reduction in headquarter posi- tions of 15% and improvements of energy efficiency leading to significant savings. Differentiate through technology and innovation Better use of technology and innovation is critical to maintain- ing the Group's competitive edge and this will be an important driver for reducing cost as well as enhancing our customer experience. Maersk Maritime Technology successfully manages a significant portion of the business units' innovation. Furthermore, the Group Innovation Board aims to identify and fund projects which are not directly related to the business units' daily operations. Maersk Line actively evaluates new technologies for fuel effi- ciency and prepares for upcoming regulations both as a part of its retrofit programme as well as the recent newbuilding activities. As examples, Maersk Line evaluates suppliers and technologies relative to: Upcoming requirements to reduce 80% of NOx emission in North America Prepare for global Ballast Water Treatment requirements Impact of new low-sulphur fuel requirements in emission control areas. ● ● In order to improve decision support and data quality, Maersk Line is also working to improve the fuel consumption meas- urements on board its vessels. The objective is to increase the transparency and frequency of vessel data to support opera- tional efficiency across the entire fleet. Maersk Line has begun a journey to modernise its customer interaction in line with the digital age, and the other business units will also benefit from this. 4/42

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