Investor Presentaiton

75 A.P. Moller-Maersk Annual Report 2020 Financials Consolidated financial statements Notes index Amounts in USD million = Note 5 Tax Table 5.1 Tax recognised in the income statement Current tax on profits for the year 2020 2019 293 369 Adjustment for current tax of prior periods -28 5 Utilisation of previously unrecognised deferred tax assets -6 -6 Total current tax 259 368 Origination and reversal of temporary differences Adjustment for deferred tax of prior periods 11 -15 7 3 Adjustment attributable to changes in tax rates and laws Recognition of previously unrecognised deferred tax assets Reassessment of recoverability of deferred tax assets, net -3 -3 -7 -4 46 28 Total deferred tax 54 9 Total income tax 313 377 Tonnage and freight tax 94 81 Total tax expense 407 458 Tax reconciliation Profit/loss before tax 3,307 967 Profit/loss subject to Danish and foreign tonnage taxation, etc. -2,210 -439 Internal gain/loss on sale of assets 1 Share of profit/loss in joint ventures -122 -93 Share of profit/loss in associated companies -177 -136 Profit/loss before tax, adjusted 799 299 Tax using the Danish corporation tax rate (22%) Tax rate deviations in foreign jurisdictions Non-taxable income Non-deductible expenses Adjustment to previous years' taxes Effect of changed tax rate Change in recoverability of deferred tax assets Deferred tax asset not recognised Other differences, net Total income tax Tax recognised in other comprehensive income and equity Of which: Current tax Deferred tax 176 65 -123 -44 -65 -74 212 246 -21 8 -3 -3 33 18 32 126 72 35 313 377 -6 -26 -10 .ག -32 6

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