A.P. MOLLER HOLDING - Owners with a purpose

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OWNERS WITH A PURPOSE


Front page: A.P. Møller rigging at the helm of his yacht “Karama III”, 1960 Photo credits: Front page Birthe Melchiors, P3 Unilabs, P6 Steen Brogaard, P10 A.P. Moller - Maersk, P11 Unilabs, P12 Danske Bank, P13 Faerch, P14 Maersk Drilling, P15 Maersk Tankers, P16 KK Wind Solutions, P17 Nissens Cooling Solutions, P18 Maersk Tankers, P19 Jake Lyell / Alamy Stock Photo, P20 Melissa Askew / Unsplash, P21 ZeroNorth, P22-23 Torben Eskerod, P24-25 Steen Brogaard, P27 Cobe, Shutterstock, Adam Mørk, Jens Lindhe, Colourbox. Key figures: 2021


OW NERS W ITH A PUR POSE

A.P. MOLLER HOLDING invests in and builds businesses that have a positive impact on society – ‘nyttig virksomhed’. We are the parent company of the A.P. Moller Group and the investment arm of the A.P. Moller Foundation. We aspire to drive the long-term shareholder value of our businesses. Through engaged ownership, we leverage our founding family’s core values, company insights, and global networks, to set our businesses up for success, while supporting local communities. Our engaged ownership embraces large well-established holdings such as A.P. Moller - Maersk, Danske Bank, Faerch, and Unilabs as well as promising new investments and incubations.

UNILABS In December 2021, A.P. Moller Holding signed an agreement to acquire Unilabs, a leading European diagnostics services provider focusing on laboratory testing, pathology, and radiology. The business serves both public and private healthcare providers across 15 countries. The acquisition was completed in March 2022.

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OW NERS W ITH A PUR POSE

INVESTING IN THE FUTURE Our portfolio and investments focus on scalable platforms in areas where we can drive long-term change and impact.

GLOBAL TRADE Facilitating global trade is key to prosperity and benefits everyone, as people and societies gain income and growth. We develop logistics solutions and build critical infrastructure for communities across the world.

CIRCULARITY, WATER, AND WASTE RECOVERY

THE ENERGY TRANSITION Our societies depend on a steady and reliable energy supply. At the same time, our planet needs to urgently transition from hydrocarbon based energy to sustainable energy sources. We are focused on helping to make this transition possible in a way that is reliable, secure, and responsible.

The world continues to consume resources at an increasing rate. We need to adapt to, utilise, and optimise sustainable alternatives and move beyond the linear production and consumption model. This means developing a circular model, where resources and materials are recycled in an endless cycle.

DEMOGRAPHICS AND SOCIETAL CHANGES In many parts of the world, life expectancy is increasing, fertility is low, and migration politically sensitive, while in some emerging markets we see significant population growth. These slow-moving but mostly inevitable demographic and societal developments are transforming our societies and challenging our healthcare systems. At the same time, we continue to adopt digital and automated ways of working and living. Both are critical if we are to address demographic change and move towards a more value-based healthcare system.

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BUILDING 'NYTTIG VIRKSOMHED' A.P. MOLLER HOLDING is the parent company in the A.P. Moller Group and the A.P. Moller Foundation’s fully owned investment company Net asset value (DKKm)

Composition 2021

223,891

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6%

A.P. Moller - Maersk Danske Bank Maersk Driling Privately owned companies Financial portfolio 5%

2% 141,708

135,857

116,605 98,085

Net asset value DKK 223.9bn

9%

78% 2017

2018

2019

2020

2021

Cash inflow (DKKm)

Composition 2021 • A.P. Moller - Maersk

4% 4%

Maersk Product Tankers Maersk Tankers Danske Bank Other 2%

7%

8,774

8,526

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7,146 5,099

4,361

Cash inflow DKK 8.8bn

83% 2017

2018

2019

2020

2021 5


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“Our values are a constant in an ever-changing world, an anchor and a beacon for us all. They are a link to the past, give us guidance today and will hopefully remain an integral part of our future.” ANE M. M. UGGLA Chairman of the Board at A.P. Moller Holding and the A.P. Moller Foundation

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CORE VALUES WE ARE GUIDED BY our five core values that were established by A.P. Møller and Mærsk Mc-Kinney Møller. Values that Maersk employees have lived by for more than a century:

CONSTANT CARE

HUMBLENESS

Take care of today, actively prepare for tomorrow

Listen, learn, share, give space to others

OUR NAME

UPRIGHTNESS

The sum of our values, passionately striving higher

Our word is our bond

OUR EMPLOYEES The right environment for the right people

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OW NERS W ITH A PUR POSE

A.P. MOLLER HOLDING AT A GLANCE A.P. MOLLER FOUNDATION

A.P. MOLLER HOLDING

A.P. MOLLER - MAERSK

MAERSK TANKERS

FAERCH

DANSKE BANK

MAERSK DRILLING

KK WIND SOLUTIONS

UNILABS

ZERONORTH

A.P. MOLLER CAPITAL

INNARGI MAERSK PRODUCT TANKERS

NISSENS COOLING SOLUTIONS

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HIGHLIGHTS 2021 • A.P. Moller - Maersk delivered historically high profitability

• KK Wind Solutions continued its strong growth

• We closed the acquisition of Faerch

• We completed the acquisition of Nissens Cooling Solutions

• We signed an agreement to acquire Unilabs

• We established Innargi as an independent company with third party funding and an external Board of Directors

• We supported the proposed merger of Maersk Drilling and Noble • Maersk Tankers continued to transform its business model

• We pursued ‘growth investments’ in Blue Ocean Robotics and Forto, and supported the listing of Green Hydrogen Systems

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A.P. MOLLER - MAERSK FACTS

A.P. MOLLER - MAERSK is an integrated transport and logistics company, and the global leader in container shipping and ports, including multiple brands.

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EBITDA: USD 24,036m Market cap: USD 64.3bn (31 December 2021) Ownership: 41.51% ownership / 51.45% voting share Established in 1904 95,000 employees


UNILABS FACTS

UNILABS is a leading European diagnostics services provider focusing on laboratory testing, pathology, and radiology. The business serves both public and private healthcare providers across 15 countries. The acquisition was completed in March 2022.

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Established in 1987 12,800 employees


DANSKE BANK FACTS

DANSKE BANK is Denmark’s largest bank. Its core business includes private, business, institutional customer segments, and other financial services to the Nordic markets.

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Net profit: USD 2.1bn Market cap: USD 14.7bn (31 December 2021) Ownership: 21.26% Established in 1871 21,800 employees


FAERCH FACTS

FAERCH is the world’s leading sustainable food packaging company offering fully circular packaging that can be recycled into new food packaging materials.

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Revenue: USD 661m Established in 1969 2,100 employees


MAERSK DRILLING FACTS

MAERSK DRILLING is a leading offshore drilling operator, developing high-end rigs and providing high efficiency drilling services to oil and gas companies around the world.

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EBITDA: USD 325m Market cap: USD 1.6bn (31 December 2021) Ownership: 41.60% Established in 1972 2,500 employees


MAERSK PRODUCT TANKERS FACTS

MAERSK PRODUCT TANKERS is an asset company with more than 60 vessels owned or under long-term charter. The vessels deliver refined oil products to more than 650 ports around the world.

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Revenue: USD 433m Established in 2017 23 employees


KK WIND SOLUTIONS FACTS

KK WIND SOLUTIONS is a leading global supplier of power electronic system solutions for the wind turbine industry, offering a wide range of products and services to wind turbines and parks.

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Revenue: USD 405m Established in 1981 1,500 employees


NISSENS COOLING SOLUTIONS FACTS

NISSENS COOLING SOLUTIONS is a market leading manufacturer of customised cooling solutions for industrial applications, including onand offshore applications in the wind turbine industry.

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Revenue: USD 208m Established in 1921 1,000 employees


MAERSK TANKERS FACTS

MAERSK TANKERS is a service company operating one of the largest tanker fleets in the world. They have a century of expertise in commercial management of tankers, today used to develop and deploy solutions that help shipowners boost the economic and environmental performance of their vessels.

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Revenue: USD 466m Established in 1928 300 employees


A.P. MOLLER CAPITAL FACTS

A.P. MOLLER CAPITAL is an alternative asset manager focusing on infrastructure investments that combine attractive risk adjusted returns with a positive social impact. Capital commitment close to USD 1bn.

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Drawn capital: USD 588m Established in 2017 32 employees


INNARGI FACTS

INNARGI is a geothermal heating company aiming to heat millions of urban homes while leaving zero impact on our planet. Geothermal energy is a large renewable energy source and can serve as a sustainable heating alternative to fossil fuels such as coal, gas, and biomass.

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Established in 2017 8 employees


ZERONORTH FACTS

ZERONORTH is a technology company leading the green transition in an effort to make global trade green. By blending cutting-edge technology with human expertise, their platform provides a range of software solutions that enable the shipping industry to reduce its impact on the climate whilst maintaining commercial performance.

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Established 2020 67 employees


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A.P. MØLLER HOUSE ESPLANADEN 19 was built in 1873 to accommodate the Royal Danish Nautical Chart Archives. Today, it is the home of A.P. Moller Holding from where we strive to fulfil our purpose to build and develop businesses that have a positive impact on society – ‘nyttig virksomhed’.

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A.P. MOLLER HOLDING

ROBERT MAERSK UGGLA CEO

JAN THORSGAARD NIELSEN CIO

MARTIN NØRKJÆR LARSEN CFO

Robert M. Uggla, MSc in Business Administration (Finance & Accounting), has held various roles in A.P. Moller - Maersk. Robert M. Uggla is Chair of the Board of Directors at A.P. Moller - Maersk, Maersk Tankers, Maersk Product Tankers, and A.P. Moller Capital; Vice Chair of the Board of Directors at Maersk Drilling; and a member of the Board of Directors at ZeroNorth and the IMD Business School Foundation Board.

Jan T. Nielsen, MSc in Economics, has extensive experience in private equity and investment banking in Europe, the US, and Asia. Before joining A.P. Moller Holding, he was Senior Managing Director & Partner at Blackstone Private Equity, Hong Kong. Jan T. Nielsen is Chair of the Board of Directors at KK Wind Solutions, Nissens Cooling Solutions, and Unilabs; Vice Chair of the Board of Directors at Danske Bank and Faerch; and a memmember of the Board of Directors at LEGO.

Martin N. Larsen, MSc in Economics & Finance, has held several roles in A.P. Moller - Maersk. Martin N. Larsen is Chair of the Board of Directors at Navigare Capital Partners; Vice Chair of the Board of Directors at Assuranceforeningen SKULD (Gjensidige); and a member of the Board of Directors at Maersk Drilling, Maersk Tankers, Maersk Product Tankers, A.P. Moller Capital, and Unilabs.

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OW NERS W ITH A PUR POSE

ANNE MARIE VIG Head of Compliance & Risk Anne Marie Vig, MSc in Economics, has comprehensive experience heading compliance and risk management functions at group level in the financial sector.

BIRGITTE SCHOU Head of Accounting & Tax Birgitte Schou, MSc in Business Administration & Auditing, is a Birgitte state-authorised public accountant and has a strong track record as a former Partner in a leading global audit firm.

ERIK BERGOO Head of Financial Investments Erik Bergoo, MSc in Industrial Industrial Engineering & Management, has considerable experience from various roles in global financial markets in Scandinavia, UK, and Singapore.

JOHAN LILLIEHÖÖK Managing Director, Investments Johan Lilliehöök, Lilliehöök, MSc in Finance, has extensive experience in private equity across multiple industries and as a Managing Director at a leading global private equity fund in London.

MARIA PEJTER Head of HR Maria Pejter, BSc in Political Science, has held several top-level positions within organisational strategy and development in A.P. Moller - Maersk.

MIKA BILDSØE LASSEN Head of Branding & Communications Mika Bildsøe Lassen, MSc in Communications Communications & Public Relations, has extensive experience in international corporate communication and brand management.

MORTEN STAKROGE General Counsel Morten Stakroge, LL .M and attorney-at-law, has substantial experience from practicing law, primarily within M&A and corporate matters.

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A.P. MØLLER OG HUSTRU CHASTINE MC-KINNEY MØLLERS FOND TIL ALMENE FORMAAL (A.P. MOLLER FOUNDATION) THE A.P. MOLLER FOUNDATION has, since its establishment in 1953, supported a great variety of projects to the public benefit in Denmark, Schleswig-Holstein, and the Nordic countries.

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Examples of prominent projects in recent years

The Opera Park

Maersk Bridge

Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping

The Opera Park is under construction next to the Royal Danish Opera House in Copenhagen. It will revitalise the area with a beautiful green oasis on the surface and improve the means of access and parking underground. The Opera Park is designed by the Danish architecture studio Cobe and expected to be inaugurated in 2023.

In response to the COVID-19 pandemic, the A.P. Moller Group established the Maersk Bridge: an air bridge and supsup ply chain operation to secure delivery of PPE to healthcare workers and thereby reduce the risk of transmitting COVID-19 in hospitals. The A.P. Moller Foundation donated the first shipment in 2020.

In 2020, the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping was launched by the A.P. Moller Foundation and a group of leading industry players with the purpose of developing new net-zero fuel types and technologies.

Maersk Tower

Hammershus

Danish Public School Donation

The Maersk Tower is a stateof-the-art research building in Copenhagen. It accommoaccommo dates the Faculty of Health and Medical Sciences at the University of Copenhagen with 15 floors of modern lecture halls and cutting edge laboralaboratories. The building is designed by the renowned Danish archiarchitecture studio C.F. Møller and has obtained several architecarchitectural awards.

Hammershus is Northern Europe’s largest castle ruin, erected in the 13th century on the northern tip of Bornholm. In 2012, a careful restoration of the 2 km wall and 20,000 m2 stone masonry was initiated, and in 2018 a new visitor center was added to accommodate the more than 500,000 annual visitors.

In 2013, the A.P. Moller Foundation decided to donate DKK 1bn to strengthen the edu­c ation in Danish public schools. The objective is to increase the pupils’ learning and welfare by enhancing qualifications of teachers and developing new teaching tools. More than 100 projects have been funded so far.

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A.P. Møller Holding A/S Esplanaden 50 1263 Copenhagen K apmoller.com

Edition 5.0 2022