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 16 February 2015 to 20 February 2015:

Number of
A shares		 Average purchase
price A shares, DKK		 Transaction value,
A shares, DKK
Accumulated, last announcement 80,833 1,012,656,313
16 February 2015 717 13,112.23 9,401,468
17 February 2015 307 13,354.60 4,099,862
18 February 2015 307 13,637.60 4,186,743
19 February 2015 615 13,647.83 8,393,417
20 February 2015 738 13,645.58 10,070,440
Accumulated in second
phase of the program
49,909
604,262,451
Accumulated under the program 83,517 1,048,808,244

Number of
B shares		 Average purchase
price B shares, DKK		 Transaction value,
B shares, DKK
Accumulated last announcement 321,091 4,149,195,700
16 February 2015 2,708 13,544.72 36,679,105
17 February 2015 1,707 13,779.77 23,522,066
18 February 2015 1,641 14,103.98 23,144,631
19 February 2015 2,462 14,124.36 34,774,166
20 February 2015 3,283 14,097.99 46,283,685
Accumulated in second
phase of the program
198,339
2,478,151,927
Accumulated under the program 332,892 4,313,599,354

With the transactions stated above, the Company owns a total of 83,517 A shares and 435,409 B shares as treasury shares, corresponding to 2.36% of the share capital.

Copenhagen, 23 February 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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