A.P. Møller - Mærsk — Capital/Financing Update 2009

Oct 23, 2009

ANNOUNCEMENT

A.P. Møller - Mærsk A/S to issue unrated Eurobonds

In the Q2 2009 interim report, A.P. Møller - Mærsk A/S announced that it would evaluate opportunities in the corporate bond market in order to diversify funding sources. Following soundings among potential investors, it has today been decided to issue bonds denominated in Euro. The issuance of bonds will be A.P. Møller - Mærsk A/S' first in the international capital markets.

"Corporate bonds are increasingly being used as an additional funding source for large European corporates, and in the light of that development it is only natural that we look at the funding opportunities in the European capital markets" says Jan Kjærvik, Senior Vice President and Head of Group Finance and Risk Management.

Danske Bank A/S, HSBC Bank plc., ING Bank N.V., J.P. Morgan Securities Ltd. and Nordea Bank Danmark A/S will place the bonds. The issuance is expected to be a benchmark transaction in terms of volume.

The final size of the issue, maturity and the coupon will be decided, when the book building process closes, assumed to be on 23 October.

Proceeds from the bond issuance will be used for general corporate purposes and for repayment of drawings under longer term bank revolving facilities which will be kept as liquidity buffers.

Copenhagen, 23 October 2009

Contact person:

Senior Vice President Jan Kjærvik, phone +45 3363 1911

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, SOUTH AFRICA OR JAPAN

This announcement does not constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States. The Bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or the laws of any state within the U.S., and may not be offered or sold in the United States, except in a transaction not subject to, or pursuant to an applicable exemption from, the registration requirements of the Securities Act or any state securities laws. This announcement and the information contained herein may not be distributed or sent into the United States, or in any other jurisdiction in which offers or sales of the Bonds would be prohibited by applicable laws and should not be distributed to United States persons or publications with a general circulation in the United States. No offering of the Bonds is being made in the United States.

This announcement is only being distributed to and is only directed at (i) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (ii) high net worth entities falling within Article 49(2) of the Order and (iii) persons to whom it would otherwise be lawful to distribute it (all such persons together being referred to as "relevant persons"). The Bonds are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Bonds will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.