Independent limited assurance report on the ESG performance data

To the stakeholders of A.P. Møller - Mærsk A/S

A.P. Møller - Mærsk A/S engaged us to provide limited assurance on the ESG performance data included in the 2022 Sustainability Report on pages 58-63 for the period 1 January - 31 December 2022 (the “ESG performance data”).

Our conclusion

Based on the procedures we performed and the evidence we obtained, nothing came to our attention that causes us not to believe that the ESG performance data in the 2022 Sustainability Report are prepared, in all material respects, in accordance with the ESG performance data accounting policies developed by A.P. Møller - Mærsk A/S as stated on pages 64-69 (the “ESG performance data accounting policies”).

This conclusion is to be read in the context of what we state in the remainder of our report.

What we are assuring

The scope of our work was limited to assurance over ESG performance data in the 2022 Sustainability Report of A.P. Møller - Mærsk A/S.

Regarding reporting on Art. 8 of the Taxonomy Regulation on pages 61-63 in the 2022 Sustainability Report, we only provide limited assurance on whether the included data have been stated in accordance with the EU Taxonomy accounting policies as stated on pages 68-69, and not whether the data are in compliance with the EU regulation, since the reporting requirements therein are still open to interpretations.

We express limited assurance in our conclusion.

Professional standards applied and level of assurance

We performed a limited assurance engagement in accordance with International Standard on Assurance Engagements 3000 (Revised) ‘Assurance Engagements other than Audits and Reviews of Historical Financial Information’ and, in respect of the greenhouse gas emissions, in accordance with International Standard on Assurance Engagements 3410 ‘Assurance engagements on greenhouse gas statements’. The quantification of greenhouse gas emissions is subject to inherent uncertainty because of incomplete scientific knowledge used to determine the emissions factors and the values needed to combine emissions of different gasses. A limited assurance engagement is substantially less in scope than a reasonable assurance engagement in relation to both the risk assessment procedures, including an understanding of internal control, and the procedures performed in response to the assessed risks; consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.

Our independence and quality control

We have complied with the independence requirements and other ethical requirements in the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour and ethical requirements applicable in Denmark.

PricewaterhouseCoopers applies International Standard on Quality Control 1, ISQM 1, which requires the firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards, and applicable legal and regulatory requirements.

Our work was carried out by an independent multidisciplinary team with experience in sustainability reporting and assurance.

Understanding reporting and measurement methodologies

The ESG performance data need to be read and understood together with the ESG performance data accounting policies. The ESG performance data accounting policies used for the preparation of the ESG performance data are accounting policies developed by the company, which Management is solely responsible for selecting and applying. The absence of a significant body of established practice on which to draw to evaluate and measure sustainability data allows for different, but acceptable, measurement techniques and can affect comparability between entities and over time.

Work performed

We are required to plan and perform our work in order to consider the risk of material misstatement of the ESG performance data. In doing so and based on our professional judgement, we:

• Performed an assessment of materiality and the selection of topics for the 2022 Sustainability Report of A.P. Møller - Maersk A/S,

• Read and evaluated reporting guidelines and selected internal control procedures regarding the ESG performance data in the 2022 Sustainability Report of A.P. Møller - Mærsk A/S,

• Conducted interviews with Management responsible for the sustainability management, use of company-wide systems, reporting and controls,

• Checked ESG performance data on a sample basis to underlying documentation,

• Conducted analytical review of the data and trend explanations, and

• Evaluated the obtained evidence.

Statement on other sustainability information mentioned in the report Management of A.P. Møller - Maersk A/S is responsible for other sustainability information communicated in the 2022 Sustainability Report. The other sustainability information on pages 2-54 of the 2022 Sustainability Report comprises the sections ‘Introduction’, ‘Strategy and Governance’ and ‘Progress on ESG’.

Our conclusion on the ESG performance data on pages 58-63 does not cover other sustainability information and we do not express an assurance conclusion thereon. In connection with our review of the ESG performance data, we read the other sustainability information in the 2022 Sustainability Report and, in doing so, considered whether the other sustainability information is materially inconsistent with the ESG performance data, our knowledge obtained in the review or otherwise appear to be materially misstated. We have nothing to report in this regard.

Management’s responsibilities

Management of A.P. Møller - Mærsk A/S is responsible for:

• Designing, implementing and maintaining internal control over information relevant to the preparation of the ESG performance data in the 2022 Sustainability Report that are free from material misstatement, whether due to fraud or error;

• Establishing objective ESG performance data accounting policies for preparing the ESG performance data;

• Measuring and reporting the information in the ESG performance data based on the ESG performance data accounting policies; and

• The content of the 2022 Sustainability Report.

Our responsibility

We are responsible for:

• Planning and performing the engagement to obtain limited assurance about whether the ESG performance data for the period 1 January – 31 December 2022 are prepared, in all material respects, in accordance with the ESG performance data accounting policies;

• Forming an independent conclusion, based on the procedures performed and the evidence obtained; and

• Reporting our conclusion to the stakeholders of A.P. Møller - Mærsk A/S.

Hellerup, 8 February 2023

PricewaterhouseCoopers

Statesautoriseret Revisionspartnerselskab

CVR no. 3377 1231

Mogens Nørgaard Mogensen State Authorised Public Accountant mne21404

Lars Baungaard State Authorised Public Accountant mne23331