ANNOUNCEMENT

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

On 29 August 2014 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 5.6bn is to be executed during a 12-month period beginning 1 September 2014.

During the second phase of the program running from 24 November 2014 to 28 February 2015, the Company will buy-back A and B shares for an amount of up to DKK 3,320 mill. (equivalent to approximately USD 550 mill.).

The following transactions have been made under the program in the period 12 January 2015 to 16 January 2015:

Number of
A shares		 Average purchase
price A shares, DKK		 Transaction value,
A shares, DKK
Accumulated, last announcement 65,342 817,248,825
12 January 2015 971 11,954.28 11,607,609
13 January 2015 615 12,053.37 7,412,821
14 January 2015 666 11,979.88 7,978,598
15 January 2015 615 12,032.00 7,399,680
16 January 2015 656 12,096.00 7,934,976
Accumulated in second
phase of the program
35,257
415,036,715
Accumulated under the program 68,865 859,582,508

Number of
B shares		 Average purchase
price B shares, DKK		 Transaction value,
B shares, DKK
Accumulated last announcement 257,147 3,315,373,755
12 January 2015 2,966 12,418.39 36,832,956
13 January 2015 2,791 12,474.66 34,816,779
14 January 2015 2,626 12,414.94 32,601,626
15 January 2015 2,708 12,436.05 33,676,819
16 January 2015 2,626 12,479.88 32,772,152
Accumulated in second
phase of the program
136,311
1,650,626,659
Accumulated under the program 270,864 3,486,074,086

With the transactions stated above, the Company owns a total of 68,865 A shares and 373,541 B shares as treasury shares, corresponding to 2.01% of the share capital.

Copenhagen, 19 January 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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