Comments on 2022 ESG performance data

The 8% decrease in SO emissions in 2022 compared to 2021 is related to a similar decrease in fuel consumption.

The significant decrease in NOx emissions of 32% in 2022 compared to 2021 is partly driven by a decrease in heavy fuel consumption and partly driven by application of updated NOx emission factors.

The 29% increase in waste production has been driven by a number of factors. The first being a systematic improvement in our sustainability reporting process in 2022 combined with the acquisition and inclusion of KGH, Visible and B2C Europe in Maersk Sustainability reporting. We also recorded a significant increase in waste resulting from the recovery operations in Pipavav Port following Cyclone Tauktay in 2021, and failure of a sewage treatment system in another Terminal requiring all sewage to be transported from site for treatment.

Water consumption increased 16% from 2021 to 2022. We have recorded increased water consumption across all segments due to increased FTEs and office occupancy. In Logistics & Services, we recorded increased water consumption mainly driven by operations in Performance Team, the inclusion of data from Visible for the time in 2022 and the opening of new facilities in Chile.

In 2022, we recorded zero hydrocarbon spills above 10 m3. The reduction in large hydrocarbon spills in our landside operations is in part the result of the continued focus and implementation of Maersk Global Spill Prevention Requirements, which started its rollout in landside logistics in late 2021.

We recorded 118 containers lost at sea during 2022. The loss of containers was linked to three incidents involving Maersk vessels. Of the 118 containers, 117 were lost due to heavy weather and 1 was lost due to collision.

Performance

1) Number has been restated in 2022 based on work performed to improve reporting processes and data quality

2) Numbers not part of PwC’s limited assurance for 2022

*New KPI that was introduced as part of the ESG strategy in 2022 and hence comparison year data may not be reported.

FTE data is taken from Note 2.2 Operating cost in the audited 2022 Annual Report of A.P. Moller

- Maersk

We have recorded an 8 percentile point increase in our Employee Engagement Survey score ranking on global norms.

The share of women in Maersk increased 2% from 2021. The share of women in management (JL 4+) remained at 33% while the share of women in leadership (JL 6+) increased 4%.

We recorded a decrease in the share of Maersk employees with a nationality of countries not part of the list of the Organization for Economic Co-operation and Development (OECD), while we saw an increase of 1% among our executive leadership (JL 8 & 9) with a target nationality.

Regrettably, nine fatal accidents were recorded during 2022, three Maersk employees and six third-party contractors working on behalf of Maersk.

We improved our lost-time injury frequency by 0.03 in 2022 compared to 2021.

We recorded a 83% completion rate of a Learning Team being completed following a High Potential incident in 2022.

The completion rate of Employee relations and labour rights training among Maersk’s white collar employees was 83% in 2022.

*New KPI that was introduced as part of the ESG strategy in 2022 and hence comparison year data may not be reported.

Comments on 2022 ESG performance data

Code of Conduct completion rate among the white collar employees in scope was 83% in 2022

Group-wide risk assessment is carried out every second year with the most recent being completed in 2021 and the next scheduled for 2023. Hence, the coverage for 2022 is the same as in 2021, and work to address identified risks has been embedded and executed on as part of the Compliance Programme in 2022

We recorded an increase of almost 16% in the number of whistleblower cases received in 2022 compared to 2021. We see this as an indication of progress in our efforts to promote a speak up culture.

In 2022, 96% of all suppliers with active contracts registered in our Sustainable Procurement database have committed to Maersk’s Supplier Code of Conduct. By the end of 2022, 77% of Maersk’s Tier 1 high-risk category/strategic suppliers with active contracts had undergone an ESG assessment. 69% of the high-risk category/ strategic suppliers assessed and where improvement points had been identified, have had those closed by end of 2022.

Data ethics training completion rate among the white collar employees in scope was 67% in 2022. The relatively low completion rate is due to the rollout of the training, which happened towards the end of Q4.

Financial data is taken from the audited 2022 Annual Report of A.P. Moller - Maersk. The annual accounts and independent auditors’ report can be found at investor.maersk.com

The results of Maersk’s taxonomy screening for 2022 confirm that the company has significant opportunity to have a substantial contribution towards climate change mitigation, and that it is in its early stages of the journey to decarbonise its end-to-end value chain.

Hence, for 2022 we see a high share of eligible revenue, Capex and Opex but a significantly lower share of revenue, Capex and Opex related to taxonomyaligned activities. Over the coming years, we expect to see a low and gradual increase of taxonomy-aligned revenue and a bigger and continued steady increase in the taxonomt-aligned Capex in line with our decarbonisation strategy

Please see a detailed breakdown of the EU Taxonomy KPIs on the following pages.

In 2018, Maersk launched a 5-year Revolving Credit Facility that is linked to the efficiency (EEOI) performance of our vessels (vs a 2008 baseline). In 2022, we recorded an improvement of efficiency (EEOI) of 39.9% compared to the 2008 baseline.

Proportion of revenues from products or services associated with taxonomy-aligned economic activities 2022

Proportion of Capex from products or services associated with taxonomy-aligned economic activities 2022

Economic activities

*In November 2021. Maersk issued green bonds under our Green Finance Framework. The use of proceeds from the green bonds are used to finance the ordered green methanol enabled vessels. Allocation of the use of proceeds have been allocated in 2021 and 2022. The allocation report for 2022 will be available in Q1 2023. Allocation reports can be found on investor.maersk.com/green-finance

Proportion of Opex from products or services associated with taxonomy-aligned economic activities 2022

*The scope of Opex is defined as the Repair and Maintanance Opex related to Maersk’s taxonomy eligible activities. Hence, total Opex is the same as eligible Opex. Consequently, we have 100% eligible Opex and 0% non-eligible Opex.