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 19 January 2015 to 23 January 2015:

Number of
A shares		 Average purchase
price A shares, DKK		 Transaction value,
A shares, DKK
Accumulated, last announcement 68,865 859,582,508
19 January 2015 615 12,287.73 7,556,956
20 January 2015 512 12,366.64 6,331,720
21 January 2015 820 12,427.58 10,190,612
22 January 2015 410 12,630.85 5,178,649
23 January 2015 410 12,906.50 5,291,665
Accumulated in second
phase of the program
35,257
449,586,316
Accumulated under the program 71.632 859,582,508

Number of
B shares		 Average purchase
price B shares, DKK		 Transaction value,
B shares, DKK
Accumulated last announcement 270,864 3,486,074,086
19 January 2015 2,626 12,691.03 33,326,640
20 January 2015 2,462 12,757.32 31,408,522
21 January 2015 2,298 12,823.52 29,468,452
22 January 2015 2,626 13,040.93 34,245,486
23 January 2015 2,791 13,314.84 37,161,705
Accumulated in second
phase of the program
136,311
1,816.237.464
Accumulated under the program 283,667 3,651,684,891

With the transactions stated above, the Company owns a total of 71,632 A shares and 386,344 B shares as treasury shares, corresponding to 2.08% of the share capital.

Copenhagen, 26 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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