1、 Annual Remuneration Report 2025A.P.Mller-Mrsk A/S Esplanaden 50,DK-1263 Copenhagen K|Registration no.22756214ALL THE WAYIntroduction from the Remuneration Committee .03Key remuneration changes and outcomes in 2025 .04Executive Board .04Board of Directors .04Remuneration Committee .04Main activities
2、 .04Summary of Remuneration Policy .05Remuneration Executive Board .06Remuneration 2025 at a glance .06Short-term incentive measures .06Short-term incentive outcome .06Long-term incentive plan .07Long-term incentive plan 2025-2027 grant .07Long term incentive plan 2023-2025 outcome .08Shareholding r
3、equirement .08Remuneration Board of Directors .10Board and committee fees .10Shareholding requirement .10Composition changes .10Total remuneration .10Development in remuneration .11Development of remuneration Executive Board .11Development of remuneration Board of Directors .11Employee remuneration
4、.12CEO Pay Ratio .12Company performance development .12Clawback and Board Discretion .12Statement by the Board of Directors .13Statement by the Independent Auditors .14Contents2Remuneration Report 2025A.P.Mller-Mrsk A/SFor remuneration purposes,the assessment of performance combines core financial a
5、spects as well as transformational.The first ensures focus on how we create value for our share-holders today,the second ensures progress towards our ambitions that will be the basis for long-term value creation.In 2025,Maersk delivered solid operational and strategic progress,including the full pha
6、se-in of the new East-West network(Gemini cooperation),improved Logistics&Services performance,and continued investments in critical port and terminal infra structure amid a volatile market.Reflecting the years results,the Executive Boards Short-term Incentive paid out at 97%.The Long-term Incentive