Maersk Investor Presentation Deck

Freight rates decreased by 0.4% with volumes down by 1.8% ● 40 ● ● Total volumes decreased by 1.8% driven by East-West and North-South trades impacted by a high baseline in 2018 in US from front loadings and lower demand across Europe and most North- South trades Total backhaul volumes decreased by 1.5%, while headhaul decreased by 1.9%. The average freight rate decreased by 0.4% or 8 USD/FFE, which was impacted negatively by the developments in foreign exchange rates. Adjusted for this, the average rate increased 0.1%. Appendix FY 2019 Loaded volumes ('000 FFE) East-West North-South Intra-regional Total Average freight rates (USD/FFE) East-West North-South Intra-regional Total Q4 2019 984 1,575 735 3,294 Q4 2019 1,969 2,180 1,469 1,905 Q4 2018 1,044 1,616 693 3,353 Q4 2018 1,937 2,096 1,512 1,913 Change -60 -41 42 -59 Change 32 84 -43 -8 Change % -5.7% -2.5% 6.1% -1.8% Change % 1.7% 4.0% -2.8% -0.4% FY 2019 4,100 6,362 2,834 13,296 FY 2019 1,885 2,117 1,462 1,883 MAERSK

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