A.P. Moller Holding

This report represents the statutory consolidated statement of A.P. Møller Holding A/S on CSR in accordance with section 99a of the Danish Financial Statements Act. It represents policies, activities and results achieved in 2018 for entities owned and controlled by A.P. Møller Holding A/S.

A.P. Møller Holding A/S (A.P. Moller Holding) is 100% owned by A.P. Møller og Hustru Chastine Mc-Kinney Møllers Fond til almene Formaal (A.P. Moller Foundation), one of the largest, industrial foundations in Denmark.

As the investment arm of the A.P. Moller Foundation, our purpose is to exercise the Foundation’s role as an engaged owner in the spirit of A.P. Møller and to ensure that the Foundation can continue to contribute to society in the form of donations for generations to come. We fulfil this purpose by safeguarding the longterm viability of our companies and by investing in and building value creating businesses that have a positive impact on society and on our name. As stated above we are investing in and building new businesses that have a positive impact on society “Nyttig virksomhed”, as defined by our founder A.P. Møller. Our Africa Infrastructure Investment Fund and our focus on Geothermal energy are examples of such, and “Nyttig virksomhed” is a key element in our investment strategy going forward. As stated in our strategic beliefs in our Annual Report 2018, we are open to reconsider ownership of a business, if its business model does not have a positive impact on society. Social responsibility is integrated into our purpose and is core in everything we do.

In 2018, we continued the implementation of new policies and systems to secure a solid basis for our future activities as an engaged investment company. We have among other things been implementing General Data Protection Regulation (GDPR) policies and systems as well as formulated Anti Money Laundering (AML) and Anti Bribery and Corruption (ABC) policies. As such we have high focus on mitigating the risk of being abused for money laundering or financing of terrorism by third parties that A.P. Moller Holding engages with. This is especially relevant in relation to our investments, where we always conduct proper and adequate AML due diligence measures on relevant counterparties being advisors, co-investors etc.

Our ABC policy illustrates our zero tolerance towards fraud and bribery. This is one of the cornerstones in our overall framework for how to exercise due care to prevent bribery and corruption internally as well as in relation to third parties acting on behalf of A.P. Moller Holding. The policy gives the overall guidelines in relation to procedures to be followed when investing, when interacting with other business relationships e.g. government officials, in relation to gifts and hospitality etc.

OUR INVESTMENTS As an international investment company with a broad range of investment activities, A.P. Moller Holding has a significant influence on society. We acknowledge the responsibilities that this entails and make an effort to ensure that we are recognised as a trustworthy group of companies. The Board of Directors of each of our Large Investments, A.P. Moller - Maersk, Danske Bank, Maersk Drilling, Maersk Tankers, Maersk Product Tankers and our Fund Manager, A.P. Moller Capital define their own specific CSR policies and Code of Conduct. We are represented on each board, and these representatives ensure that CSR policies, including human rights, climate change and environmental impact, are enforced. Policies are adapted to meet the circumstances in which each of the affiliates operates.

CSR POLICIES AT A.P. MOLLER HOLDING At A.P. Moller Holding, being a good corporate citizen is an integral part of the way we do business, globally as well as locally.

We are committed to work internally and with our business relations to promote responsible practices. Our aspiration is to ensure that all our business relations acknowledge our values and share our commitment to conduct business in an ethical, legal and socially responsible manner. Continually, we strive to improve the performance of our business relations within the areas of human rights, labour standards and the environment and to work against any form of corruption, fraud and bribery.

We strongly believe that implementing a “Code of Conduct” will create value for all parties and this is a step to establish a longterm sustainable relationship with our business partners, our employees and the societies where we operate.

We expect our suppliers to avoid participation in or knowingly benefit from, any kind of corruption, money-laundering, market abuse, extortion or bribery.

Furthermore, we expect our suppliers to respect all applicable laws and regulations and prevailing industry standards.

As such we expect our suppliers to integrate environmental considerations in its activities and strive for continuous improvement by minimizing any adverse effects of its activities on the environment.

We expect our suppliers to provide a safe and healthy working environment for all their employees. This include high focus on safe and health working environment, respectful treatment, equal opportunity rights, freedom of Association and Collective Bargaining, compliance with applicable working hours, etc. Based on the CSR policies of A.P. Moller Holding, specific CSR policies and codes of conduct for the subsidiaries are laid down by their respective Boards of Directors, in which A.P. Moller Holding is represented.

In this report, the CSR reports of A.P. Møller – Mærsk A/S, Maersk Drilling Holding A/S and Maersk Tankers Group – each outlining company-specific policies, activities and results for 2018 – have been combined. Furthermore, there is a section on APMH Invest A/S and A.P. Møller Capital P/S, which is not publishing a CSR report on its own.

WE ARE GUIDED BY OUR FIVE CORE VALUES