ANNOUNCEMENT

A.P. Møller - Mærsk A/S - Transactions in connection with share buy-back program

On 31 August 2015 A.P. Møller - Mærsk A/S (the Company) announced first phase of a share buy-back program in compliance with the EU Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour regulation). The share buy-back program of up to DKK 6.7bn is to be executed during a 12-month period beginning 1 September 2015.

During the second phase of the program running from 1 December 2015 to 31 March 2016, the Company will buy-back A and B shares for an amount of up to DKK 4,400 mill.

The following transactions have been made under the program in the period 7 december 2015to 11December 2015:

Number of
A shares		Average purchase
price A shares, DKK		Transaction value,
A shares, DKK
Accumulated, last announcement49,359503,286,239
7 December 2015 1,148 9,814.82 11,267,413
8 December 2015 1,107 9,618.24 10,647,392
9 December 2015 984 9,419.68 9,268,965
10 December 2015 1,394 9,454.18 13,179,127
11 December 2015 1,312 9,189.84 12,057,070
Accumulated in second
phase of the program		10,661104,742,732
Accumulated under the program55,304559,706,206
Number of
B shares		Average purchase
price B shares, DKK		Transaction value,
B shares, DKK
Accumulated last announcement195,5022,043,162,382
7 December 2015 4,597 9,960.77 45,789,660
8 December 2015 4,597 9,753.18 44,835,368
9 December 2015 3,940 9,561.92 37,673,965
10 December 2015 5,253 9,587.61 50,363,715
11 December 2015 5,253 9,302.29 48,864,929
Accumulated in second
phase of the program		42,661426,029,114
Accumulated under the program219,1422,270,690,019

With the transactions stated above, the Company owns a total of 55,304A shares and 304,394 B shares as treasury shares, corresponding to 1.67 % of the share capital.

Copenhagen, 14 December 2015

Contact persons:

Head of Investor Relations, Henrik Lund, tel. +45 3363 3106

Head of Media Relations, Louise Münter, tel. +45 3363 1912

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