Maersk Investor Presentation Deck

Logistics & Services - highlights Q4 2020 Significant growth and profitability improvement ● ● ● 18 The gross profit (GP) margin improved by 3.5%-points to 24.3%, supported by continued margin optimisation in intermodal, air freight forwarding and warehousing and distribution, led by the Performance Team acquisition. The acquisitions contributed positively to the revenue growth and increase in profitability and the integrations are progressing successfully. USDm Revenue Growth % EBITDA Q4 19 Annual Report 2020 1,529 31 M&A effect 197 13% 27 Organic growth 335 22% 99 Q4 20 2,061 35% 157 The EBIT conversion improved to 18.7%, lifting the LTM EBIT conversion to 17% with positive impact from higher volumes and improved mix of activities. USDm 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Gross profit & EBIT-conversion ratio, LTM - 7.6% Q2 2019 8.9% Q3 2019 IL&S GP LTM 7.5% 8.1% Q4 2019 Q1 2020 9.4% Q3 2020 EBIT conversion before special items LTM (RHS) 12.7% Q2 2020 17.0% Q4 2020 % 18% 16% 14% 12% 10% 8% 6% 2% 0% Note: EBIT conversion before restructuring and integration costs ratio = EBIT / Gross profit EBIT before restructuring and integration costs excludes impairments, restructurings costs, gains/losses on sales of assets and JV adjustments MAERSK

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