A.P. Møller - Mærsk A/S agreed to Spin-Off Towage and marine services activities on February 8, 2024. It will be proposed that the APMM shareholders will receive one share in Svitzer Group per nominal APMM DKK 500 share and two shares in Svitzer Group per nominal APMM DKK 1,000 share. The shares will be allocated among the shareholders based on the registered ownership in VP Securities A/S as of May 1, 2024. As part of the demerger, the shares in Svitzer A/S (Svitzer) and its subsidiaries as well as certain other related assets and liabilities will be contributed by APMM to a new legal entity under the name of Svitzer Group A/S (Svitzer Group), the shares of which are expected to be admitted for trading and official listing on Nasdaq Copenhagen A/S. The Board of Directors of APMM unanimously propose the demerger for approval by the APMM shareholders at an extraordinary general meeting expected to be held on April 26, 2024. The anticipated first day of trading for the shares of Svitzer Group on Nasdaq Copenhagen is on April 30, 2024. A.P. Møller - Mærsk proposes to elect all members of the current Board of Directors of Svitzer, are elected as members of the Board of Directors of Svitzer Group including, Morten H. Engelstoft, Robert M. Uggla, Christine Brennet Morris, and Peter Wikström. Executive Management of Svitzer Group will be comprised of Kasper Friis Nilaus, CEO, and Knud Lind Winkler, CFO, who constitute the current Executive Management of Svitzer. The general meeting of shareholders will also elect Pricewaterhouse- Coopers Statsautoriseret Revisionspartnerselskab as the Auditor for Svitzer, until the first annual general meeting in 2025. VP Securities A/S acted as registrar to A.P. Møller - Mærsk.

A.P. Møller - Mærsk A/S completed the Spin-Off of Svitzer Group A/S Towage and marine services activities on April 30, 2024