Maersk Investor Presentation Deck

Ocean highlights Q3 2020 Lower cost from agile capacity deployment and lower bunker cost ● ● Focus on agile capacity deployment as volumes recovered combined and lower bunker cost led to a decrease in total operating cost of 13% to USD 5.3bn (USD 6.1bn). • Despite the negative development in volumes compared to last year, the unit cost at fixed bunker decreased by 2.9% as result of tight capacity deployment in line with the decline in volumes. leading to a higher utilisation. The volatility in demand led to a decrease in reliability. Total bunker cost decreased 34% as the average bunker price decreased 29% to USD 290 per ton. Keeping an agile capital deployment strategy meant that capacity was allocated to the right trades to facilitate the changing demand. The increased demand compared to Q2 meant that very few vessels were idled by the end of the quarter. 13 • The bunker consumption declined 6.5% impacted by blanked sailings and idle capacity. Q3 2020 interim report Unit cost at fixed bunker* decreased by 2.9% to 1,868 USD/FFE Bunker efficiency worsened by 0.8% Bunker cost decreased to USD 0.8bn (USD 1.2bn) * Fixed bunker price of 450 USD/FFE Unit cost at floating bunker price was 1,740 USD/FFE (1,890 USD/FFE) Utilisation on the deployed capacity increased to a record level of close to 96% SG&A increased by USD 27m to USD 689m (USD 662m) mainly due to restructuring costs of USD 65m MAERSK

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