Investor Presentation Preliminary Financials 2016 Hamburg, 28 February 2017 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.

All information on FY 2016 financials is preliminary and unaudited.

2 Opening remarks

 We continued to progress on our strategic initiatives and achieved a profit in H2 2016 01 Deliverables (after a disappointing first half year with the low point in Q2)

 The industry fundamentals are showing continuous signs of improvement Market Update 02  The sector is consolidating with Hapag-Lloyd proactively taking part

Hapag-Lloyd  We improved results in Q4 and achieved an operating profit of USD 140 m in 2016 03 Performance  We are delivering on our savings with top-tier unit costs (outperforming the sector)

 Our merger with UASC is strategically and operationally highly attractive 04 UASC Merger  Significant CAPEX savings and USD 435 m p.a. anticipated cost synergies

Way Forward  Main focus going forward on completing the transaction with UASC, starting THE 05 Alliance and quickly integrating the UASC business to further reduce costs

3 1 Deliverables We continued to progress on our initiatives in 2016

€ €

2016 2017

January 2016 March 2016 August 2016 January / Compete to Win Inclusion in Annual General February 2017 roll-out SDAX Meeting approves Successful all agenda items bond issuance & debt refinancing

April 2016 July 2016 November 2016 February 2017 Talks between Hapag-Lloyd & UASC sign Hapag-Lloyd achieves Hapag-Lloyd increases Hapag-Lloyd & Business Combination net profit in Q3 2016 results in Q4 2016 UASC Agreement

February 2016 May 2016 October 2016 December 2016 2 x wide beam Announcement 1st Hapag-Lloyd ship Naming ceremony for ships acquired of THE Alliance transits expanded Valparaiso Express (#1/5 Panama Canal 10,500 TEU vessels)

4 2 Market Update The industry momentum is changing as guided by Hapag-Lloyd over the recent years

2017 comments in public domain in line with 2015 / 16 HL guidance

“The current wave of consolidation in the sector, with so far “…which will create urgently needed only 13 global carriers remaining - down from 20 last year - and concentration as TOP 5 in many cases will the related reshuffling of alliances, would likely lead to Consolidating industry control ~70% of trades” improved capacity management” BCA Investor Presentation, 2016 Lloyd’s Loading List, January 2017

“The new shipping alliances taking effect in 2017 are looming “…new alliances create more stability, but it will large in the minds of shippers. This new year brings new take some time before things settle down” Re-shaping alliances vessel-sharing agreements into effect in April” Investor Presentation, FY 2015 Journal of Commerce, January 2017

“Although overcapacity is expected to initially further increase, spot freight rates from China have recently shown a stronger “Freight rates expected to recover in 2016” Freight rates recover than expected recovery [and] doubled from the trough in April” Investor Presentation, FY 2015 Lloyd’s Loading List, January 2017

“The very low number of new building orders was backed up by “Vessel sizes are reaching their economic an all-time high of demolition capacity reducing the harmful maximum, which will help reduce the orderbook Orderbook depletes effects of new ships being delivered” going forward” Journal of Commerce, January 2017 Investor Presentation, FY 2015

“The increased scrapping of Panamax tonnage, driven by the “Scrapping is increasing (with Panama Canal opening of the enlarged Panama Canal, also helped reduce the expansion)” High scrapping number of jobless vessels above 3,000 TEUs” Investor Presentation, H1 2015 Alphaliner, January 2017

5 2 Market Update Demand: Container shipping remains an industry with healthy growth and balanced trade dynamics

Container shipping volume and global GDP growth

6 2000-2008 2010-2015 2016-2018E GDP 2.1x 1.3x 1.2x multiplier +4.6% 300 +4.0% +4.7% +3.2%

250

+9.1%

+3.7% +3.4% 200 Transport volume +3.5% +3.1%

+4.3% 150 Global GDP

100 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017E 2018E

6 Source: Clarksons (February 2017), IMF WEO (October 2016) 2 Market Update Supply: Capacity growth is slowing (as a result of decreasing benefits of ever larger vessels)

8 Orderbook-to-fleet [TEU m, %] Orders placed by year [TEU m] 61% 3.2 -91% 7 50% 2.2 2.0 1.8 6 38% 1.2 1.1 0.6 27% 28% 0.4 5 0.2 0.1 21% 21% 0.0 18% 19% 17% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Feb 17 4 YTD

Vessel deliveries by year [TEU m] 6.5 3 6.0 -41%

5.0 1.7 4.3 1.5 2 1.4 1.4 1.4 1.4 3.9 3.8 1.3 1.3 3.4 3.6 3.4 1.2 1.2 3.3 1.0

1

0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017E

7 Source: Clarksons (February 2017), Drewry , MDS Transmodal (January / February 2017) H2 H1 2 Market Update Supply: Scrapping and idling help to further reduce effective supply growth

Highest scrapping level ever … … and idling remains high … [TTEU] [TTEU] Share of world fleet 6.6%

27 28 30 Especially in 24 23 23 23 1,441 19 18 1,480 Panamax segment 1,359 1,324 +237%

809 779 650 595 444 351 332 381 356 193 228 131 75 446 138 292 217 332 334 115 31 111 2009 2010 2011 2012 2013 2014 2015 2016 Feb 17 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 YTD 2009 2010 2011 2012 2013 2014 2015 2016 … keeping net capacity growth low … … slowly reducing supply / demand gap Net capacity growth 2017E 7.7% 20 13.7% 15 -1.0% 9.7% 8.4% 10 6.8% 8.0% 3.7% 6.1% 5.5% 6.3% 5.5% 3.5% 4.3% -3.0% 5 7.8% 5.1% 5.3% 4.6% 3.1% 3.7% 0 2.2% 1.8% -5 Scheduled Post-ponements Scrapping Net capacity growth -9.2% capacity growth -10 2009 2010 2011 2012 2013 2014 2015 2016 2017E 2018E

8 Source: Alphaliner (February 2017), Clarksons (February 2017), Drewry (Forecaster 4Q16) Average age Q4 9M Demand Supply 2 Market Update Freight rates have started to recover ahead of CNY

Shanghai – Europe (SCFI) Shanghai – USA (SCFI)

6,000 USWC (USD/FEU) USEC (USD/FEU) HL Transpacific* 2,500 NEurope (USD/TEU) Mediter. (USD/TEU) HL Far East* 5,000 2,000 4,000 1,500 3,000 3,055 1,000 921 882 2,000 1,650 500 1,000 0 0 Jan Apr Jul Oct Jan Apr Jul Oct Jan Apr Jul Oct Jan Jan Apr Jul Oct Jan Apr Jul Oct Jan Apr Jul Oct Jan 14 14 14 14 15 15 15 15 16 16 16 16 17 14 14 14 14 15 15 15 15 16 16 16 16 17 Shanghai – Latin America (SCFI) Comments

LatAm (USD/TEU) HL Latin America* (USD/TEU) Further freight rate increases planned March 2017 by various carriers, e.g.:1) 3,000 Hapag-Lloyd: Asia– Latin America: USD 1050 / TEU – 15 March; Transpacific: USD 560 / 2,500 TEU – 15 March 2,000 1,757 MSC: North Europe – Latin: USD 150 / TEU – 17 March; Mediterranean – North America: 1,500 USD 200 / TEU – 19 March 1,000 OOCL: Asia – North America: USD 640 / TEU – 1 April 500 Market bunker price level increased in Q4 and beginning of 2017 compared to 0 9M 2016 which is also partially reflected in higher spot market rates Jan Apr Jul Oct Jan Apr Jul Oct Jan Apr Jul Oct Jan 14 14 14 14 15 15 15 15 16 16 16 16 17

9 Source: Shanghai Shipping Exchange (24 February 2017) 1) Based on peer and industry publications * Hapag-Lloyd trade definition 2 Market Update Gap between TOP 6 and the rest is widening rapidly

Current consolidation wave leads to higher concentrations

Carrier capacity [TEU m] and global capacity share [%] Global capacity share [%]

14% 13% 8%

2.5 2.3

1.5 4% 4% 4% 4% 3% 3% 3% 3% 3% 2% 2% 2% 2% 2% 2% 2% 1% 44%

0.8 0.8 58% 0.7 0.7 0.6 0.6 0.5 0.5 0.5 0.5 0.4 0.4 0.3 0.3 0.3 0.3 Ranking end of 2013 0.3

Maersk MSC CMA Ever- COSCO Hapag- Hanjin APL CSCL MOL NYK Hamburg OOCL Yang PIL K-Line ZIM Hyundai UASC CSAV CGM green Lloyd Süd Ming 17%

18% 14% 11% 8% 8% 7% 20% 3.7

2017 2.8 5% 3% 3% 2% 2% 1% 39% 2.1 1.6 1.5 1.4 22% 1.0 0.6 0.6 0.4 0.4 Ranking as of 0.3 2013 2017E Maersk / MSC CMA CGM COSCO Hapag-Lloyd MOL / NYK Evergreen OOCL Yang Ming Hyundai PIL ZIM Hamburg Süd / APL / CSCL / UASC / K-Line Top 5 Top 6-10 Remaining

10 Source: Drewry (Forecaster 4Q16), MDS Transmodal (January 2017, October 2013) Note: Diagram assuming that all currently announced mergers (Hapag-Lloyd & UASC; NYK & MOL & K-Line, Maersk & Hamburg Süd) will receive regulatory approvals and are executed as announced. Simple sum of stand-alone operating capacity as of December 1, 2016. 2 Market Update On the back of consolidation, alliances have been re-shaped with start of operations in April 2017

Strong partners in THE Alliance Strong partners in THE Alliance THE Alliance covers all East-West trades 5% 2M1) . Comprehensive network of 32 services will connect more than 75 Ocean major ports 33% 2 49% THE Alliance

Others Binding agreement signed by all partners Atlantic 13% . Begin in April 2017 . The initial period will be 5 years 9% 1) Combined capacity of ~3.5m TEU or around 17% of world fleet – 20% 2M1) vessel pool of more than 240 ships Ocean 29% 2 THE Alliance Leading product characterized by Others

42% . Fast transit times Transpacific . Broad port coverage 16% 5% . Latest vessels 2M1) 2) 23% 38% Ocean After Japanese JV we are three 45% 3 THE Alliance 3) partners in THE Alliance : Hapag-Lloyd Others 39%

K-Line, MOL, NYK Far East Far 34% Yang Ming

THE Alliance position 1) 2M including Hamburg Süd 2) Subject to regulatory approvals and closing 11 Source: Alphaliner monthly (February 2017), Drewry (Forecaster 4Q16), MDS Transmodal (January 2017) 3) Total operating capacity of THE alliance partners, not all to be deployed in alliance (Hapag-Lloyd including UASC) 3 HL Performance We delivered on our defined initiatives

Tangible results and further upside

CUATRO synergies: . Initial target: USD 300 m Compete . Revised target: USD 400 m to Win Successful Improvement of implementation Close the revenue quality OCTAVE programs: Cost Gap . OCTAVE I: USD 200 m Value-enhancing Structural investments . OCTAVE I+II: USD 200 m Improvements plus high double-digit USD m Performance driven culture Further measures: OCTAVE . Close the Cost Gap: 9.3k, Continuous 10.5k, Old Ladies, container CUATRO efficiency Sustainable improvements profitable growth and now UASC

Strategic projects to enhance profitable growthprofitable to projects enhance Strategic Integration of CSAV . Compete to Win: Improve- ment of revenue quality 2015 2016 >2017

12 3 HL Performance Transport volume in line with expectations, freight rates decreased and unit costs further optimized

Transport volume [TEU m] Freight rate [USD/TEU] 1,700 2014 2015 2016 +2.7% +25.3% 1,600 1,427 1,225 1,036 1,500 7.4 7.6 1,400 5.9 -15.4% 1,300 1,200 1,100 1,000 900 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Transport expenses per TEU [USD/TEU] Bunker price [USD/mt] 800 -20.1% 700 575 312 210 1,363 -15.0% 600 -32.6% 1,089 500 925 400 300 200 100 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

13 3 HL Performance Overall we achieved an operating profit in 2016

Hapag-Lloyd Preliminary Financials 2016

Q1 2016 Q2 2016 Q3 2016 Q4 2016 FY 2016 FY 2015 ∆%

Transport volume [TTEU] 1,811 1,892 1,947 1,949 7,599 7,401 +3%

Freight rate [USD/TEU] 1,067 1,019 1,027 1,033 1,036 1,225 -15%

Bunker price [USD/t] 178 182 224 257 210 312 -33%

Exchange rate [EUR/USD] 1.10 1.12 1.13 1.10 1.10 1.11 n/a

Revenue [USD m] 2,124 2,088 2,152 2,182 8,546 9,814 -13%

EBITDA [USD m] 136 83 206 246 671 922 -27%

EBITDA margin 6.4% 4.0% 9.6% 11.3% 7.9% 9.4% -1.5ppt

EBIT [USD m] 5 -50 73 111 140 407 -66%

EBIT margin 0.2% -2.4% 3.4% 5.1% 1.6% 4.1% -2.5ppt

14 3 HL Performance The effects of our further cost savings are clearly visible when looking at the relative performance

FY 2015 EBIT [USD m] 9M 2016 EBIT [USD m] Q4 2016 EBIT [USD m]

6.0% 2.4% Maersk Line 1,431 Wan Hai 31 Hapag-Lloyd 111 5.1%

5.9% 0.5% CMA CGM 894 Hapag-Lloyd 29 NYK 36 2.6%

4.1% (4.1%) Hapag-Lloyd 407 ZIM -78 K-Line -26 (2.1%)

5.0% (3.7%) OOCL 294 NYK -151 MOL -43 (3.1%)

2.3% (1.8%) COSCO 167 CMA CGM -195 Maersk -136 (2.6%)

Wan Hai 127 6.3% Evergreen -218 (7.8%)

Hanjin 112 1.8% K-Line -247 (7.1%)

ZIM 98 3.3% Maersk -260 (1.7%)

NYK 38 0.6% MOL -303 (7.3%)

K-Line -15 (0.3)% Yang Ming -397 (15.4%)

APL -83 (1.5)% Hyundai -447 (19.6%)

Evergreen -121 (2.9)% Hanjin -486 (14.9%)

MOL -201 (3.2)%

Yang Ming -203 (5.1)% Note: Not all carriers report Note: Further result publications on a quarterly basis expected within next weeks CSCL -396 (8.7)%

Note: For selected peers including terminals and other business if no liner figure available. Translation into USD based on average FX rates for individual periods. 15 Source: Company information (23 February 2017) x% EBIT margin 3 HL Performance Equity at USD 5.3 bn and liquidity reserve at USD 0.8 bn – Capital increase of USD 400 m post Closing

Strong equity base [USD m] Stable net debt [USD m]

Financial Debt 4,256 4,415

5,497 5,342 Cash 625 602

1) 3,631 3,793

Net Debt

2015 2016 2015 2016

Solid liquidity position [USD m] UASC merger implications

 Cash capital increase of USD 400 m (equivalent) to be executed 1,048 within six months after closing (backstopped by certain core shareholders) 423 802 200  Strengthening of shareholder base with the new key shareholders Qatar Holding LLC and the Public Investment Fund of the Kingdom of Saudi Arabia 625 602  Value protection via guaranteed equity, cash and debt covenants (as of certain Relevant Dates) 2015 2016

1) incl. Restricted Cash (USD 19.7 million booked as other assets) 16 3 HL Performance Hapag-Lloyd optimized its maturity profile via debt capital markets at more attractive pricing levels

Bond coupon and maturity profile

Coupon 9.75% 7.75% 7.50% 6.75%

EUR 450 m . On 18 Jan 2017 Hapag-Lloyd successfully priced a Yield to maturity new bond of EUR 250 m due 2022 – on 7 Feb 2017 EUR 400 m at issuance: the company tapped the new bond by additional 6.50%1) EUR 200 m at emission price of 102.375% EUR 200 m . The proceeds are used to proactively refinance the EUR 200 m outstanding 9.75% USD bond due 2017, partially EUR 250 m redeem the 7.75% EUR bond due 2018 and for general corporate purposes (including further repayment of existing indebtedness)

. The yield to maturity at issuance was 6.50%1) and USD 125 m EUR 250 m thereby clearly below the existing bond pricings EUR 200 m . Hapag-Lloyd was able to engage a high quality and diversified investor base in this new bond issuance

2017 2018 2019 2020 2021 2022

1) Weighted average: (6.75% x 250 + 6.186% x 200) / 450 = 6.50% 17 4 UASC Merger Hapag-Lloyd / UASC merger creates a top tier pure-play carrier

At a glance Deal rationale

Combined Combination assures a top 5 position globally and 1) Scale Entity on key trades in a consolidating market

Corporate Hamburg Dubai Hamburg HQ Further balancing of trade portfolio with leadership Network on Middle East Trades

Alliance G6 Ocean 3 THE Alliance membership Access to young and fuel-efficient fleet with large share of ULCVs Fleet Sustainable market position without further short- term fleet investments Ships [#] 166 59 225 Significant value creation through expected run- Synergies rate synergies of USD 435 m p.a. starting 2019 – Capacity 1.0 0.6 1.5 c. 1/3 in 2017 already [TEU m] Strong partner in light of ongoing alliance Container reshuffling 1.6 0.7 2.3 Partner [TEU m] Supportive core shareholders and capital market investors 1) Sum of stand-alone figures as of 31 December 2016 (rounding differences may occur) 18 4 UASC Merger Scale: On important trades TOP 5 players now make up more than 70 % capacity share

TOP 5 concentration on individual trades (2013 versus 2017) Atlantic Latin America Far East Transpacific Middle East / Indian Subcontinent

90% 79% 81% 73% 70% 67% 59% 53%

41% 43%

2013 2017 (incl. announced mergers)

19 Source: Alphaliner monthly newsletter (June 2013 / February 2017) Note: Diagram assuming that all currently announced mergers (Hapag-Lloyd & UASC; NYK & MOL & K-Line; Maersk & Hamburg Süd) will receive regulatory approvals and are executed as announced. Simple sum of stand-alone operating capacity as of February 2017. 4 UASC Merger Network: Balanced trade portfolio – More than any TOP 5 liner

Transport volume by trade, FY 2016 (indicative) Hapag-Lloyd UASC1) Combined Entity1)

20% 20% 16% 13% 4% 54% 17% 16% 27%

30%

22%

22%

13%

3% 3%

9%

5% 5%

Trade TEU m Trade2) TEU m Trade2) TEU m

Atlantic 1.5 Atlantic 0.1 Atlantic 1.6 Transpacific 1.5 Transpacific 0.3 Transpacific 1.8 Far East1) 1.2 Far East 1.2 Far East 2.4 Latin America 2.2 Latin America 0.1 Latin America 2.3 Intra Asia1) 0.7 Intra Asia 0.5 Intra Asia 1.2 EMAO 0.4 EMAO 0.1 EMAO 0.5 Total 7.6 Total 2.3 Total 9.9 Breakdown of capacity operated by trade3) Hapag-Lloyd/UASC Maersk/HSDG MSC CMA CGM COSCO 5% 7% 3% 1% 14% 14% 13% 20% 2% 10% 5% 10% 13% 20% 24% 4% 4% 11% 1% 20% 6% 27% 30% 21% 19% 23%

19% 24% 9% 29% 28% 8% 24% 19% 13%

Atlantic Transpacific Far East Latin America EMAO Intra Asia Others3)4) 1) UASC transport volume by trade as of 30.09.2016 2) Allocation of UASC volume according to Hapag-Lloyd trade definition 3) As of December 2016. 20 Source: Alphaliner monthly newsletter (February 2017) Breakdown based on capacity deployed by individual carriers on direct services only. Excl. wayport capacity, transshipment services, slot exchange arrangements and cross-trade intra-alliance arrangements; numbers for Hapag-Lloyd based on exposure to global trades 4) Includes Middle East / ISC trades and idle fleet 4 UASC Merger Fleet: Access to young and fuel-efficient fleet with large share of ULCVs with no planned need to invest in next years

Average fleet age Fleet ownership [%] Average vessel size [TEU]

Combined 6.3 Combined 66% 34% Combined 6,857

CMA CGM / COSCO / 7.2 63% 37% +1,057 APL CSCL MSC 6,044 TEU

COSCO / -1.6 Hapag-Lloyd 57% 43% CSCL 7.4 yrs Hapag-Lloyd 5,800

Average Maersk / COSCO / 1) 7.8 53% 47% 5,656 Top 15 HSDG CSCL

Average Average Hapag-Lloyd 7.9 50% 50% 5,164 Top 15 Top 15

Maersk / CMA CGM / Maersk / 8.4 44% 56% 5,083 HSDG APL HSDG

CMA CGM / MSC 8.8 MSC 36% 64% 4,862 APL

1) Weighted by carrier capacities

21 Source: MDS Transmodal (January 2017) plus HL internal data (HL Fleet as of 31.12.2016, Combined as of 31.12.2016), only vessels >399 TEU 4 UASC Merger Synergies: Synergies of USD 435 m expected from 2019 onwards – Mainly in network and overhead

Synergy potential, full run-rate [USD m]

435 Comments 1 Network − Optimized new vessel deployment / network − Slot cost advantages − Efficient use of new fleet 2 Overhead − Consolidation of Corp. and Regional HQs − Consolidation of country organizations − Other overhead reductions (e.g. marketing, consultancy, audit) 3 Other (terminals, equipment and intermodal) − Lower container handling rates 1 Network 2 Overhead 3 Other Expected synergies per vendor/location − Imbalance reduction and leasing costs optimization Synergies of USD 435 m per year from 2019 onwards – − Optimization of inland haulage approx. 1/3 to be achieved in 2017 already network One-off costs of approx. USD 150 m largely payable in 2016/2017 − Best practice sharing

22 4 UASC Merger Partner: New core shareholders with strategic interest in the Combined Entity

Transaction overview

Other Free  UASC shares contributed to Hapag-Lloyd QH1) PIF2) CSAV HGV Kühne TUI Minorities3) Float in exchange for newly issued

51.3% 36.1% 12.6% 31.4% 20.6% 20.2% 12.3% 15.5% Hapag-Lloyd shares

UASC shares

Hapag-Lloyd shares  Continued investment of sovereign wealth funds QIA and PIF highlight continued strategic importance of HL for the region

United Arab Hapag-Lloyd Shipping Company (Frankfurt / Hamburg)  C. 39% of shareholders representing governmental bodies and interests

 C. 37% of shareholders backed by wealthy entrepreneurs

Free with focus on and long experience in logistics CSAV HGV Kühne QH1) PIF2) TUI Float4)

22.6% 14.9% 14.6% 14.4% 10.1% 8.9% 14.7%  Planned cash capital increase of USD 400 m 50/50 backstopped by incumbent and new key shareholders within Hapag-Lloyd six months post closing (Frankfurt / Hamburg)5)

United Arab Shipping Company

Shareholders’ agreement / Controlling shareholders

1) “QH” refers to Qatar Holding LLC on behalf of the State of Qatar 2) “PIF” refers to The Public Investment Fund on behalf of the Kingdom of Saudi Arabia 3) Other UASC Shareholders include Kuwait Investment Authority on 23 behalf of the state of Kuwait (5.1%), Republic of Iraq (5.1%), United Arab Emirates (2.1%) and Bahrain (0.4%) 4) Including 3.6% Other UASC Shareholders (KIA, Iraq, UAE and Bahrain) 5) Shareholding structure prior to cash capital increase 5 Way Forward Hapag-Lloyd with clearly defined financial policy

Profitability going forward supported by improved fleet ownership structure Profitability and synergy realization

Investments No planned new vessel investments in next years – Maximize free cash flow

Deleveraging Clear target to significantly deleverage over time

Liquidity Maintain an adequate liquidity reserve for the combined entity

Capital Increase Cash capital increase backstopped by certain key shareholders1)

1) 50% backstopped by QH and PIF, 50% backstopped by CSAV and Kühne 24 25 Hapag-Lloyd shares with supportive tradings in recent months

Share trading

160 Frankfurt Stock Exchange / Stock Exchange Hamburg Stock Exchange 140

Market segment / Regulated market (Prime Standard) / 120 Index SDAX

100 ISIN / WKN / Ticker Symbol DE000HLAG475 / HLAG47

80 Ticker Symbol HLAG 60

Primary listing 6 November 2015 Hapag-Lloyd Maersk Evergreen Number OOCL DAX Global Shipping 118,110,917 of shares

26 Source: Bloomberg (24 February 2017) Hapag-Lloyd bonds continuously trade above par

Bonds trading 110

105 105.1 103.5 102.3 100

95 HL EUR 7.75% 2018 HL EUR 7.50% 2019 HL EUR 6.75% 2022

EUR Bond 2022 EUR Bond 2019 EUR Bond 2018 Listing Open market of the Luxembourg Stock Exchange (Euro MTF) Volume EUR 450 m EUR 250 m EUR 200 m1) ISIN / WKN XS1555576641 / A2E4V1 XS1144214993 / A13SNX XS0974356262 / A1X3QY Maturity Date Feb 1, 2022 Oct 15, 2019 Oct 1, 2018

as of Feb 1, 2019:103.375%; as of Oct 15, 2016:103.750%; as of Oct 1, 2015:103.875%; Redemption Price as of Feb 1, 2020:101.688%; as of Oct 15, 2017:101.875%; as of Oct 1, 2016:101.938%; as of Feb 1, 2021:100% as of Oct 15, 2018:100% as of Oct 1, 2017:100% Coupon 6.75% 7.50% 7.75%

1) Partial redemption by nominal EUR 200 m on 9 March 2017

27 Source: Citi (24 February 2017) Henrik Schilling Senior Director Investor Relations Tel +49 40 3001-2896 Fax +49 40 3001-72896 [email protected] https://www.hapag-lloyd.com/en/ir.html

28