A.P. Møller - Mærsk

Transaction in Own Shares • Jan 26, 2015

                              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    Average purchase  Transaction value,
                            A shares     price A shares,       A shares, DKK
                                                     DKK

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Accumulated, last 68,865 859,582,508
announcement
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 35,257 449,586,316
phase of the program

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Accumulated under the program 71.632 859,582,508

                           Number of    Average purchase  Transaction value,
                            B shares     price B shares,       B shares, DKK
                                                     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 136,311 1,816.237.464
phase of the program

---

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