Maersk Investor Presentation Deck

Highlights Q4 2020 Terminals & Towage ● ● ● 19 Terminals & Towage continued the resilient performance from the recent quarters with EBITDA increasing 20% to USD 364m, mainly from gateway terminals. Gateway terminals reported 8.8% higher revenue of USD 872m, and EBITDA increased to USD 316m. The EBITDA margin went up by 4.8%-points to 36.3% as a result of higher volumes and one-off's leading to the best quarterly EBITDA to date. Revenue in Towage decreased by 1.7% to USD 175m (USD 178m) as activities remained subdued, while EBITDA decreased to USD 47m (USD 51m) due to restructuring costs in Australia partly offset by lower costs. Annual Report 2020 Development in EBITDA and EBITDA margin (%) 400 350 300 250 200 150 100 50 0 JIMI Q1 20 Q2 19 Revenue Q3 19 EBITDA EBITDA margin Gross capital expenditures Q4 19 EBITDA Q2 20 EBITDA margin Q4 2020 (USDM) 1,042 364 34.9% 138 Q4 2019 (USDM) 974 304 Q3 20 31.2% 219 Q4 20 FY 2020 (USDM) 3,807 1,205 31.7% 457 40% 35% 30% 25% 20% 15% 10% 5% 0% FY 2019 (USDM) 3,948 1,118 28.3% 532 MAERSK

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