Hapag-Lloyd AG — Investor Presentation 2019

Feb 25, 2019

Investor Presentation Preliminary Results 2018

Hamburg, 25 February 2019

Disclaimer

Forward-looking statements

This presentation contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. Actual results can differ materially from those anticipated in the Company's forward-looking statements as a result of a variety of factors, many of which are beyond the control of the Company, including those set forth from time to time in the Company's press releases and reports and those set forth from time to time in the Company's analyst calls and discussions. We do not assume any obligation to update the forward-looking statements contained in this presentation.

This presentation does not constitute an offer to sell or a solicitation or offer to buy any securities of the Company, and no part of this presentation shall form the basis of or may be relied upon in connection with any offer or commitment whatsoever. This presentation is being presented solely for your information and is subject to change without notice.

UASC's Ltd. and its subsidiaries have been included in the figures from the date control was transferred on 24 May 2017.The key figures used are therefore only comparable with the previous year to a limited extent. All information on FY 2018 financials is preliminary and unaudited.

Opening Remarks

01 Our Industry	 Stable demand despite recent downgrades and rising geopolitical risks  Sector fundamentals remain favourable in the mid-term
02 Our Position	 EBITDA of USD 1,345 m in 2018 (USD 1,199 m in 2017)  Solid pro forma volume growth of 6% YoY and pro forma rate up by 2% YoY
03 Our Objectives	 Deliver on our financial and non-financial targets of our new mid-term strategy launched at the Capital Markets Day in November 2018

4

Despite increasing geopolitical risks, container shipping volume growth expectation remains on a healthy level…

5

…which, combined with the historically low orderbook and reasonable new orders…

2008 61% 3.2 2007 50% 38% 2010 6.5 27% 2009 28% 2011 21% 2012 2014 21% 2013 18% 19% 2.8 2015 16% 3.3 2016 13% 2017 11% 2018 6.0 5.0 3.9 4.3 3.6 3.4 3.8 2.5 [TEUm, %] Share of World Fleet Orderbook Vessels > 13,999 TEU

Orderbook-to-fleet Newly placed orders

[TEUm, %]

6

…will lead to a further improving supply / demand balance in the years to come

Scheduled vessel deliveries

Scrapping

Supply / Demand Balance

In nearly all trades, spot rates have shown a positive trend towards the end of 2018

Comprehensive Index (CCFI/SCFI)

Shanghai – USA (SCFI)

Shanghai – North Europe (SCFI)

Shanghai – Latin America (SCFI)

7

2 Our Position

8

We have achieved a strong positive EBITDA of USD 1,345 m in 2018

2 Our Position

9

Solid pro forma transport volume growth of 6%, while pro forma freight rates have increased by 2%

Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Transport volume [TEUm] Transport expenses per TEU [USD/TEU] 2017, pro forma 2017 2018 9.8 11.2 11.9 Ø 2017 Ø 2018 1.060 1.022 318 1.044 1.044 421 - 2% + 2% + 32% + 21% + 6% Freight rate, pro forma Freight rate, reported Ø Bunker price 2017 2018 922 935 + 1%

Freight rate [USD/TEU] vs. Bunker price [USD/mt]

3 Our Objectives

Hapag-Lloyd has a clearly defined policy to create shareholder value…

Financial Targets to be achieved until 2023

Profitability	ROIC (throughout the cycle) > WACC [This implies an EBITDA-margin of ~ 12%]
Deleveraging	Net Debt / EBITDA ≤ 3.0x
Equity	Equity ratio > 45%
Liquidity	Adequate liquidity reserve of ~ USD 1.1 bn

3 Our Objectives

…as well as customer value

Non-Financial Targets to be achieved until 2023

Quality	Achieve best in class Net Promoter Score (NPS)
	Measure and improve On Time Delivery
Superior landside capabilities	Increase share of door-to-door business to over 40% of total by 2023
Attractive Markets	Grow volume in selected attractive markets and achieve a market share of ~10% (excl. Intra Asia) in reefer market by 2023
Environmental	Comply with or exceed all IMO environmental regulations
Web Channel	Grow volume booked via Web Channel to 15% by 2023

Hapag-Lloyd Investor Relations

Ballindamm 25 20095 Hamburg Tel: +49(40) 3001-2896 ir@hlag.com https://www.hapag-lloyd.com/en/ir.html