A.P. Møller - Mærsk

M&A Activity • Jun 18, 2013

                              ANNOUNCEMENT

A.P. Møller - Mærsk A/S – Establishment of liner alliance

A.P. Møller - Mærsk A/S (Maersk Line), MSC Mediterranean Shipping Company S.A.
and CMA CGM S.A. (jointly the “Partners”) have agreed in principle to establish
an alliance named the P3 Network.

The scope of the P3 Network is the Partner’s fleet capacity deployed on the
Asia-Europe, the Transpacific and the Transatlantic trades.

The Partners will commit all vessels deployed on the 3 trades into a joint
vessel operating center (JVOC) that will operate the combined fleet
independently. The Partners will continue to have fully independent sales,
customer service and marketing functions. Vessels committed to the P3 Network
will continue to be owned/chartered and funded by the Partners.

The JVOC will operate an expected capacity of around 2.6m TEU of which Maersk
Line is expected to contribute with around 42%. Maersk Line’s 20 triple
E-vessels are planned to be operated by the P3 Network.

The P3 Network is expected to provide customers with an improved service
offering in terms of a better coverage, improved frequency and higher network
stability. P3 will create value by allowing Partners to operate with larger
vessels while improving utilization. This will lead to significant
environmental benefits from reduced bunker consumption.

The establishment of the P3 Network will be subject to approval by relevant
regulatory authorities and agreement by the Partners on definitive contracts.
The P3 Network is expected to start operations during 2nd quarter of 2014.

Copenhagen, 18 June 2013.

Contact person: Maersk Line CEO Søren Skou, phone +45 3363 1912.

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