Five year Summary

Amounts in DKKm 2018 2017 2016 2015 2014

INCOME STATEMENT Revenue Share of profit in associated companies Profit/loss before financial items (EBIT) Financial items, net Profit/loss for the year A.P. Møller Holding A/S' share of profit/loss

Average number of employees

BALANCE SHEET Total assets as of 31 December Equity as of 31 December

CASH FLOW STATEMENT Cash flow from operating activities Purchase of property, plant and equipment

FINANCIAL RATIOS Return on equity Equity ratio 260,964 219,319 204,575 226,659 214,152 2,201 4,863 502 3,200 2,499 12,814 - 3,725 - 897 26,170 35,022 - 2,815 - 4,125 - 3,916 - 2,827 - 3,337 22,464 - 2,991 - 11,051 7,656 40,264 10,942 1,388 - 1,349 3,466 11,754

83,527 80,992 82,011 81,868 82,642

413,174 435,298 464,366 458,279 425,174 255,819 229,502 256,376 267,107 262,203

24,771 25,004 11,170 30,619 45,750 - 19,857 - 35,950 - 14,991 - 31,183 - 35,160

9.3% -1.2% -4.2% 2.9% 16.3% 61.9% 52.7% 55.2% 58.3% 61.7%

The five-year key figures are based on the consolidation for A.P. Moller Holding group and have been adjusted for discontinued operations (Maersk Oil and Maersk Supply Service).

HIGHLIGHTS

A.P. Moller - Maersk continued progressing their transformation from a conglomerate to a focused global container integrator. During the year, A.P. Moller - Maersk completed the sale of Maersk Oil to Total S.A. and announced the demerger of Maersk Drilling. Maersk Drilling was listed separately in April 2019.

Danske Bank experienced a challenging year due to the AML case, leading to A.P. Moller Holding requesting an extraordinary general assembly electing a new chairmanship for Danske Bank. The underlying financial result reflected the steady development in the Nordic economies.

A.P. Moller Holding completed the partial sale of Maersk Product Tankers to Mitsui & Co. Ltd. who as co-investor provides valuable insight to the product tanker market. The tanker market was challenged in large part of the year with rates below breakeven, but with a strong pick up at year end.

A.P. Moller Capital successfully closed fundraising for their first fund “Africa Infrastructure Fund I” with USD 1bn funding commitment obtaining support from a strong investor base. It was the biggest fund raised in the Nordics by a first time fund manager.

A.P. Moller Holding announced the ambition to introduce geothermal energy on a large scale in Denmark, based on a LOI with Aarhus municipality and potentially outside Denmark over time.