A.P. Møller - Mærsk

Transaction in Own Shares • Nov 17, 2014

                              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 (equivalent to approximately USD 1bn) is to be
executed during a 12-month period beginning 1 September 2014.

During the first phase of the program running from 1 September 2014 to 30
November 2014, the Company will buy-back A and B shares for an amount of up to
DKK 2,280 mill. (equivalent to approximately USD 400 mill.).

The following transactions have been made under the program in the period 10
November 2014 to 14 November 2014:

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

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Accumulated, last 27,313 367,093,000
announcement
10 November 2014 218 12,841.40 2,799,424
11 November 2014 1,482 12,525.42 18,562,675
12 November 2014 820 12,292.23 10,079,625
13 November 2014 524 12,196.13 6,390,774
14 November 2014 350 12,068.25 4,223,886
Accumulated under the program 30,707 409,149,383

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                           Number of    Average purchase  Transaction value,
                            B shares     price B shares,       B shares, DKK
                                                     DKK

---

Accumulated last announcement 111,665 1,546,962,291
10 November 2014 1,449 13,172.46 19,086,891
11 November 2014 4,992 12,715.21 63,474,306
12 November 2014 2,462 12,538.98 30,870,969
13 November 2014 1,333 12,462.09 16,611,971
14 November 2014 1,095 12.335,58 13,507,457
Accumulated under the program 122,996 1,690,513,884

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With the transactions stated above, the Company owns a total of 30,707 A shares
and 225,759 B shares as treasury shares, corresponding to 1.17% of the share
capital.

Copenhagen, 17 November 2014

Contact persons:

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

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