Maersk Investor Presentation Deck

Logistics & Services - highlights Q3 2020 Significant growth and profitability improvement ● • The gross profit (GP) margin improved by 4.4%-points to 24.7%, supported by continued margin optimisation in intermodal, air freight forwarding and warehousing and distribution, led by the Performance Team acquisition. • The EBIT conversion improved to 21.3% (16.1%) with positive impact of SG&A cost savings and optimised cost base. ● COVID-19 continued to impact volumes and revenue across all products and solutions. ● 16 USD 40m restructuring costs was recognised as the Damco Freight Forwarding brand was closed and air freight and LCL were integrated into Maersk Logistics & Services. The integration of Performance Team is on track and it contributed USD 58m to GP and USD 24m to EBITDA. Q3 2020 interim report USDm 1,600 1,400 1,200 1,000 800 600 400 200 0 Q1 2019 Gross profit & EBIT-conversion ratio, LTM Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 EBIT conversion before special items LTM (RHS) IL&S GP LTM % 14% 12% 10% 8% 6% 4% 2% 0% Note: EBIT conversion before special items ratio = EBIT / Gross profit EBIT before special items excludes impairments, restructurings costs, gains/losses on sales of assets and JV adjustments MAERSK

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